D.A. Davidson Advises Leading InsurTech Provider Global IQX on Its Sale to Majesco

NEW YORK--(BUSINESS WIRE)--D.A. Davidson & Co. announced today that it has served as the exclusive strategic and financial advisor to Global IQX, a leader in insurance procurement and automated employee benefits technology, on its sale to Majesco, a global company that provides cloud insurance software solutions for insurance business transformation.

Global IQX is the dominant provider of underwriting workbench, enrollment, and artificial intelligence solutions that streamline, automate, and transform new and renewal-based business for insurers. With a proven track record serving some of the world’s largest companies and insurance carriers, Global IQX offers dynamic AI and component-based tools, a fully modular technology suite, and flexible deployment to accelerate digital business transformation and drive customer excellence.

“We are excited to join the Majesco team to capture growing market opportunities and accelerate the implementation of our solutions to customers. The combined value of our products will deliver unmatched capabilities and value to the Life & Annuity Health industry while delivering more sophisticated new business and underwriting value and results, creating significant competitive advantage,” said Mike de Waal, Chief Executive Officer of Global IQX.

“We’re thrilled to welcome Global IQX’s customers to our community and look forward to working with them to accelerate their digital business transformation and drive customer excellence. Global IQX market leading solutions combined with our core and absence solutions will provide the L&AH insurance market with some of the most robust, innovative solutions. We are excited to have the talented Global IQX team bring their extensive knowledge and market experience providing critical depth and expertise to our rapidly growing customer base,” said Adam Elster, Chief Executive Officer of Majesco.

This transaction represents another successful closing by D.A. Davidson's Technology Investment Banking Group, highlighting our deep domain expertise in the Insurtech space and successful track record generating highly favorable outcomes for high-growth technology companies globally. With the recent acquisition of Marlin & Associates, D.A. Davidson is one of the most active technology groups in the United States. Since January 2021, the combined Technology Group has completed nearly 80 advisory and public equity transactions representing more than $20 billion in value.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.

For information, visit dadavidson.com.