SOURCE: Vertafore, Inc.

August 29, 2006 09:25 ET

Vertafore Agrees to Acquire BenefitPoint

Acquisition Strengthens Benefits Management Offerings

BOTHELL, WA -- (MARKET WIRE) -- August 29, 2006 -- Vertafore, Inc., a leading provider of specialized software solutions for the insurance industry, today announced that it has entered into a definitive agreement to acquire all outstanding stock of BenefitPoint®, a leading San Francisco-based provider of sophisticated benefits software solutions. By combining the complementary capabilities and taking advantage of Vertafore's financial strength and organizational stability, the two companies will be able to effectively meet the needs of all segments of the benefits agency market and deliver the most comprehensive solution in the industry.

"We are excited about this opportunity to become part of the Vertafore family," said Kurt M. de Grosz, president and co-founder of BenefitPoint. "The new organization will have the domain expertise, product breadth, customer base and financial stability required to make it a clear market leader."

"BenefitPoint has always impressed us with their domain expertise and product offering in the benefits arena," said Euan Menzies, president and CEO of Vertafore. "The combination of the two companies will enable us to deliver a strong, comprehensive solution to benefits agencies."

The acquisition is subject to the satisfaction of normal conditions to closing. Financial details of the transaction were not disclosed.

About Vertafore, Inc.

Vertafore is a leading provider of specialized software services and information for the insurance industry, delivering solutions to facilitate independent agent productivity and carrier/agent connectivity. Vertafore's principal operating entities are AMS Services, SilverPlume®, Custom Insurance Solutions and others. AMS provides agency software and services to over 15,000 independent insurance agencies. CIS develops and markets software solutions specifically designed for the wholesale brokerage and managing general agents. SilverPlume is the industry's leading aggregator of insurance reference content for risk analysis and underwriting support. For more information on Vertafore and its operating entities, please visit

AMS and Vertafore are trademarks of Vertafore, Inc.

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