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Riskonnect Inc. has agreed to buy rival risk management information systems provider Marsh ClearSight L.L.C. for an undisclosed amount, Atlanta-based Riskonnect announced late last week.
Marsh ClearSight, a unit of Marsh L.L.C., will bring more than 600 technology clients to Riskonnect, a spokeswoman for the company said in an email. In addition, Riskonnect will take on about 275 Marsh ClearSight staff.
Riskonnect will integrate Marsh ClearSight products into the Riskonnect platform and “for now, Marsh will maintain a strategic distribution and client relationship with ClearSight customers,” she said.
Marsh ClearSight, which traces its origins back to Corporate Systems — the company founded by Guyon Saunders, the father of the RMIS system, in the early 1970s — was bought by Marsh in 2004 and was known as CS Stars L.L.C. until 2015.
Earlier this year, Marsh realigned the leadership of the unit following the departure of former Marsh ClearSight CEO Janet Dell.
In a statement announcing the deal, Jim Wetekamp, CEO of Riskonnect, said that “as Riskonnect looks to deepen customer engagement and expand our value to our customers, acquiring Marsh ClearSight’s deep industry expertise, technology and global scale was a clear choice.”
John Drzik, president of global risk and digital at Marsh, said: “By combining ClearSight with Riskonnect, clients will have access to a single provider for all of their integrated risk management software needs and can expect more frequent upgrades to keep pace with the evolving risk landscape.”
Marsh’s largest rival, Aon P.L.C. sold its RMIS unit, Aon eSolutions Inc., in 2014 to a technology company that renamed it Ventiv Technology Inc.
Riskonnect is owned by Chicago-based private equity firm Thoma Bravo L.L.C.
Aon P.L.C. said Wednesday that it has agreed to sell its risk management information systems business unit, Aon eSolutions Inc., to an affiliate of Palo Alto-based Symphony Technology Group.