News analysis: Open GI promises “something truly new” to the market after Transactor deal
Market reacts as software house buys rival and promises investment in technology
Open GI sprung a surprise on the sector last month when it bought rival software house Transactor (TGSL) in a deal valued at £40m.
Insurance Age broke the news exclusively and both parties expressed their delight at the friendly takeover. Open GI group CEO Chris Guillaume promised that the deal would see something new produced for the market (see quotes below).
According to an Open GI statement, the move was a key part of its ongoing operations strategy as it looks to invest in the business
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