HMT LLP undertook financial due diligence for leading insurance software provider Acturis on their acquisition of the ICE suite of insurance software products from Hubio Technologies Limited.
Founded in 2000 by David McDonald and Theo Duchen, Acturis is the leading Software as a Service provider to the general insurance industry offering an all-in-one insurance software solution to its clients. Acturis is one of the UK’s highest rated and fastest growing technology companies, and has won multiple industry awards, most recently Service Provider of the Year at the British Insurance Awards.
The ICE insurance software products which include ICE Claims, ICE Policy, ICE Billing, ICE Analytics, ICE Rating and ICE Digital now form part of a new company called ICE InsureTech Ltd and operates as an integrated unit within Acturis.
HMT undertook financial due diligence and provided tax advisory services on this transaction.
Oliver Clark, CFO of Acturis commented:
“The ICE product suite is a leader in the connected insurance space and we are delighted to welcome it into the Acturis group. HMT were recommended to us as FDD experts for this size of transaction and this was merited; they provided an excellent, responsive service throughout the transaction.”
Paul Read commented:
“We are delighted to have advised Acturis on their acquisition of the ICE insurance suite and we look forward to working with them again in the future.”