NuGrowth to Acquire Strategic Insurance Software
20 August 2009 - 6:47AM
Business Wire
NuGrowth Solutions, a software sales and development company
headquartered in Columbus, Ohio, has signed a purchase agreement to
acquire Strategic Insurance Software (SIS), a subsidiary of State
Auto Financial Corporation (STFC). SIS was founded in 1995 with the
purpose of designing and selling agency management systems that
allow independent agents to enter and process business directly
with their company partners. NuGrowth has provided business
development, sales and e-communications services to SIS since
2008.
NuGrowth CEO Greg Tillar explained the decision to purchase SIS
was grounded in their day-to-day work with the SIS product and
people. “We have appreciated being part of an organization that
brings such excellence and commitment to the insurance agency
marketplace. We look forward to building on that passion. With its
talented staff, robust agency management platform, outstanding
customer service and award-winning industry expertise, SIS is
poised for continued success and quality growth.”
STFC Chairman and CEO Bob Restrepo said the sale of SIS to
NuGrowth was a sound business decision on several levels. “SIS
customers, many of whom are State Auto agents, will benefit from
the singular focus of NuGrowth. SIS has built terrific agency
management software products, but State Auto is an insurance
company and that needs to be our singular focus.” Restrepo added
that the inclusion of the SIS staff was an important requirement of
the sale for both parties. “NuGrowth is acquiring talented people
who will insure the maintenance and stability of SIS products.”
NuGrowth is a sales and business development organization
founded in Columbus, Ohio, in 2000. NuGrowth partners with
companies to accelerate sales performance, implement growth
strategies and build equity. The NuGrowth team has managed top-line
sales and bottom-line results for a host of technology and software
companies ranging from zero-revenue start-ups to publicly traded
global organizations.
State Auto Financial Corporation,
headquartered in Columbus, Ohio, is a super regional property and
casualty insurance holding company. The company markets its
personal and business insurance products exclusively through
independent insurance agencies in 33 states and is proud to be a
Trusted Choice® company partner. STFC stock is traded on the NASDAQ
Global Select Market, which represents the top third of all NASDAQ
listed companies. The insurance subsidiaries of State Auto
Financial Corporation are part of the State Auto Group. The State
Auto Group is rated A+ (Superior) by the A.M. Best Company
Additional information on State Auto Financial Corporation can be
found online at www.StateAuto.com.
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