DUCK CREEK ENTERS DEFINITIVE AGREEMENT FOR IMBURSE PAYMENTS ACQUISITION

KUALA LUMPUR, Jan 6 (Bernama) -- Duck Creek Technologies (Duck Creek), the intelligent solutions provider defining the future of property and casualty insurance, has entered a definitive agreement to acquire Imburse Payments (Imburse), a Swiss-based modern payments platform.

As part of Duck Creek, Imburse would continue serving its existing client base and markets, while accelerating expansion plans for new clients across Europe and into North America and Asia-Pacific.

“Imburse has a strong team and they have deep expertise across the payments ecosystem, thus will help to broaden Duck Creek’s insurance industry leadership,” said its chief executive officer (CEO), Mike Jackowski in a statement.

Meanwhile, Imburse CEO, Oliver Werneyer said being part of Duck Creek will further accelerate the company’s mission to simplify how businesses around the world access the global payments ecosystem.

Imburse’s cloud-native software-as-a-service (SaaS) payment solution is built for the insurance industry, bringing greater ease and efficiency into end-to-end insurance transactions.

It enables insurance carriers to quickly connect to the entire payments ecosystem at a lower cost, seamlessly integrate with existing finance infrastructure and processes, and manage multiple partners for collections and disbursements, all in one place.

The platform will continue to be available on a stand-alone basis and will also be fully integrated with Duck Creek’s suite of technology solutions, further enabling carriers’ digital transformation goals with modern tools.

The acquisition remains subject to customary closing conditions and is expected to close during the second fiscal quarter of 2023.

-- BERNAMA