Scivantage Buys Out Unger Software Corp., Maker of Financial Planning Products |
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Written by U.S. Insurance News
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Sunday, 20 January 2008 |
Methuselah has a new home.
The suite of financial planning products, along with Financial Compass-both published by Unger Software Corp.-are now part of the Financial Guidance division of Scivantage, which has acquired the assets of Unger.
Unger Software's complementary products, services, and technical resources will help Scivantage extend the capabilities of its brokerage solutions and to further support the company's goal of delivering high-performance, technology solutions that change the way financial institutions, financial professionals, and their clients conduct their business.
"This acquisition marks an important phase in Scivantage's growth strategy, as we continue our expansion into the wealth management arena and maintain our focus on quickly establishing a leadership position," said Adnane Charchour, president and CEO of Scivantage.
Charchour added, "We believe there is a significant opportunity to automate the financial planning process and better integrate it throughout key points of the transaction lifecycle. Our combined solutions will be unmatched in our effort to bring these two components closer together in a unified platform."
Michael Forbes, the current CEO of Unger Software, will be the general manager of the new Financial Guidance division in Scivantage.
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