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Denver-based Clear Technology, Inc., which provides business process automation products for the financial services and insurance industries, will have a global market for its products, now that it has been acquired by Versata Enterprises, Inc.
Versata, headquartered in Austin, Texas, will operate Clear as a stand-alone entity within its Financial Services Business Unit. Clear joins Versata’s family of enterprise software companies, including Versata Software, Inc., Versata, Inc., Artemis International Solutions Corporation, Nextance Corporation, and Gensym Corporation.
“We are excited to welcome Clear Technology to the Versata family and promise to bring Versata’s renowned customer success focus to Clear’s customers,” said Randy Jacops, CEO of Versata Enterprises. “Versata’s global scale will enable us to continue and advance Clear’s products to benefit both Clear and existing Versata customers.”
According to Chris Smith, COO of Versata Enterprises, buying Clear means Versata will have a more extensive presence in the insurance and brokerage industries through the claims, policy administration, and underwriting areas of those industries.
“Our combined solution set will position Versata to offer powerful, modern back office solutions demanded by the world’s largest insurance and brokerage companies,” Smith said. “We believe we have the most efficient and capable global organization in the world, and we leverage that capability to deliver customer success.”
Versata will combine Clear’s operations with headquarter operations in Austin. Over the next few weeks, Versata executives expect to meet with Clear’s customers to emphasize Versata’s commitment to continuity, describe the benefits of the customer success program, and formulate a plan to ensure continued mutual success.
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