February 9, 2005 (London, Ontario) – Mutual Concept Computer Group Inc. (MCCG) of London, Ontario announces the completion of the acquisition of Bralar Software Inc. (Bralar) of London, Ontario.
MCCG has long been a provider of insurance backoffice software solutions for property and casualty insurance companies. Bralar has been providing rules engine technologies for leading insurance organizations globally.
This acquisition is the culmination of a long term relationship between the two companies which have been working closely on the development of MCCG�s next generation insurance solution, IBS BackOffice 5 (IBS 5).
The IBS 5 product is a significant advancement in the insurance systems market place. IBS 5 leverages open source and proven enterprise technologies such as Java, Oracle and JBoss to provide a highly scalable, n-tier platform which will allow for the integration of many new features such as CRM, automated workflow, integrated security, web based transactions, and many other automation functions. The product will also permit exceptional configuration flexibility and user customization without additional technical intervention. MCCG will release IBS BackOffice 5 at the end of spring 2005.
�The acquisition of Bralar will provide us with complete control over the future development and maintenance of our software products by including in our software suite the generic decision-making tool, the Bralar rules engine� stated Dorin Mascan, President of MCCG. �The ownership of the Bralar rules engine, together with the consolidation of resources between MCCG and Bralar will result in bringing to market a product that will provide the highest level of automation in the industry and the most effective match for the business requirements of our P&C insurance clients.�
�The opportunities opened by this transaction are enormous, and I am personally very excited to join the company at this stage of its growth phase. The potential for the IBS Platform and the long term product strategy set in motion by MCCG’s board ensures MCCG will become known as one of North America’s market leaders for insurance backoffice solutions� said Brad Gawne, President of Bralar. Mr. Gawne joined the MCCG management team in the capacity of Chief Technology Officer (CTO).
About Mutual Concept Computer Group Inc.
Established in 1993 with the mission of providing innovative and flexible software solutions to its clients, MCCG is a company wholly owned by Canadian Mutual insurance companies. MCCG currently has 37 Farm Mutual insurance clients across Canada and 25 employees at its location in London, Ontario. For more information, visit www.mccg.net.
About Bralar Software Inc.
Bralar was formed in 1997 to provide software products and services. Bralar has provided technology solutions and services to large and small organizations globally, with a specialty in the insurance industry. Bralar’s rules engine technology has been used by many of Canada’s largest insurers.