Guidewire (GWRE) Acquires Data Management Solution Provider Millbrook

Guidewire Software (NYSE: GWRE) announced it has acquired Millbrook, Inc., a provider of data management and business intelligence (BI) solutions for P/C insurers. The addition of Millbrook’s technology will enable Guidewire customers to accelerate replacement of their legacy core systems and to improve management of operational data in their policy, billing, and claims functions.

Guidewire provides a proven software suite enabling P/C insurers to replace legacy core system environments that constrain their business ambitions. A modern data management infrastructure can enhance the benefits while reducing the cost, risk, and duration of legacy system replacement initiatives. To this end, the Millbrook team has invested 16 years developing data models and solutions for data management and business intelligence optimized for P/C insurance.

Guidewire does not expect the acquisition of Millbrook will have a material impact on revenue or non-GAAP profitability in the fourth quarter or full year fiscal 2013. The company will announce its third quarter financial results, along with its overall guidance for the fourth quarter and full year fiscal 2013 on May 28, 2013. A separate press release with dial-in information will be issued at a later date.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Faraday Future signs robotics distributor deal, plans partner event
• Morgan Stanley course-corrects their semiconductor equipment outlook on demand