Zywave M&A heats up with data provider buy
Zywave, a Wisconsin-based insurance technology provider, has acquired miEdge, a provider of data analytics and prospecting solutions specifically designed for the insurance industry. This marks Zywave’s third acquisition in just over a year.
This latest acquisition is meant to significantly expand Zywave’s existing data services division, Zywave CEO Jason Liu says. The expanded team will work to further integrate miEdge data into Zywave’s product cloud portfolios. The deal will also significantly enhance the company’s existing client delivery, analytics and content solutions and advance Zywave’s lead sourcing functionality within its sales cloud.
“miEdge data is not only powerful for prospecting, but it will also be game-changing when integrated with Zywave’s existing products,” Liu says. “For example, the data gleaned from miEdge will provide smarter content recommendations in Content Cloud and help users identify the right resources to deliver to their customers in Client Cloud.”
miEdge pulls information from over 40 unique data sources, Liu says. The platform also offers hundreds of advanced filters, allowing users to target their ideal buyer.
“miEdge believes the future of the insurance industry will be grounded on two foundational principles: data and content,” miEdge founder and CEO Mark Smith said in a statement announcing the deal. Smith will be joining Zywave as an executive leader focusing on integration operations. “The concept of using data to deliver real-time and relevant content doesn’t exist in this business today, but with our new partnership, it becomes real. Our customers will now have access to broader capabilities, unlocking endless potential for growth.”
Zywave has been ramping up its M&A activity recently. In June Zywave acquired RateFactory, a small group rating engine that is directly linked to insurance carrier quoting systems. This move followed an acquisition of software company Code SixFour last October.
“Zywave has defined a clear acquisition strategy with the purpose of rounding out our portfolio of offerings and providing our partners with the best solutions in the industry,” Liu says. “We have made three acquisitions in the space in the last year and we expect to continue that pace and further consolidate the market. We look forward to more exciting announcements as we head into 2020.”