Holland & Hart represented FINEOS Corporation, the global market leader in SaaS-based, core systems for life, accident, and health insurance, in its acquisition of Digin Technologies LLC (dba Spraoi), a leading provider of machine learning capabilities for the Group Life and Employee Benefits industry, for a total enterprise value of $13.7 million.
This acquisition will enable FINEOS to make the best use of machine learning across the three pillars of the FINEOS Platform: Core, Digital and Data. Spraoi’s machine learning capabilities and service framework will increase digital service reach, reduce customer service friction, and provide much greater insight into the carrier/customer dynamic across the entire customer lifecycle, making the FINEOS Platform an even more attractive offering to the Employee Benefits and Life assurance industry.
The Holland & Hart transactional team was led by corporate attorneys Amos Barclay and Byron Crowe, with assistance from Craig Dammeier, Hao Wang, Sarah Ritchey Haradon, Trent Timmons, Lindsey Silber, Mark Wiletsky, Benjamin Gibbons, Sara Shelly, and Lori Argall.
For more information, please see FINEOS’ press release.
Holland & Hart’s Corporate attorneys have extensive experience advising clients at all stages of development, from start-up to public companies, in a diverse range of industries, including technology, finance, healthcare, energy and resources, gaming, outdoor recreation, animal health, construction and building materials, aerospace, and food, beverage, and consumer products industries.