V-NEO is a business advisory and technology consulting firm comprised of 190 employees that advises leading insurers across North America and Europe on their strategic transformation initiatives, including the implementation of technology platforms such as Guidewire for Property & Casualty carriers and Oracle OIPA for Life carriers. GFT is a global banking and financial services IT services company with over 5,000 employees in 11 countries. TH Global Capital served as the exclusive M&A advisor to V-NEO on the transaction.
Alain Lamothe, CEO of V-NEO stated that: “With our deep insurance know-how and our technological skills, we are not just a perfect fit for each other, but will also help diversify GFT’s customer portfolio with our long-lasting client relationships. The international GFT presence enables us to recognise global industry trends at an early stage, tapping into the market potential together, both with our clients and our partners.”
Marika Lulay, CEO of GFT Technologies added: “The acquisition of V-NEO is a decisive step towards positioning GFT as a leading IT partner for the digital transformation of the insurance industry, as it is already for the banking sector.”
Terry Kavanaugh, Managing Director at TH Global Capital commented: “We have watched V-NEO evolve from a boutique consultancy to a specialized services firm that works with some of the largest insurance carriers globally. From our very first meeting with Alain and the V-NEO team, we believed that TH could deliver a successful strategic partnership that would accelerate V-NEO’s ambitions to meet the rapid changes in the insurance market while preserving the growth culture that they have built. We look forward to watching Alain, Jerome, Marc, Carol & Remy lead the next phase of growth at V-NEO.”