GuidewireSoftware Inc. said March 29 that it agreed to acquire Columbia,S.C.-based EagleEye Analytics, a provider of software-as-a-service-basedpredictive analytics products designed for P&C insurers.
The deal is expected to close "imminently,"according to a news release.
EagleEye's products will be renamed Guidewire PredictiveAnalytics and will be available as part of Guidewire's data and analyticsproduct family. Guidewire Predictive Analytics for Claims addresses claimsmanagement decisions, such as claim severity potential, claim routing andassignment, and identifying claims with litigation or subrogation potential.Guidewire Predictive Analytics for Profitability addresses underwriting anddistribution objectives such as accurate ratemaking and risk selection,underwriting cost reduction, maximizing customer lifetime value, and portfoliooptimization. These products will be available to insurers in the Americas,Europe, Australia and New Zealand, either stand-alone or to complementGuidewire PolicyCenter or ClaimCenter.
Guidewire does not expect the transaction to materiallyimpact its revenue or non-GAAP profitability for its fiscal third quarter orfull year 2016.
Sherman & Co. LLC acted as financial adviser to EagleEyeon the transaction.