Empresas y finanzas

Skywire Software Enters Definitive Agreement to Acquire Whitehill Technologies



    Skywire Software and Whitehill Technologies, two leading global
    providers of software and services for insurance, financial services,
    legal, and professional services, today announced they have entered
    into a definitive agreement under which Skywire Software will acquire
    Whitehill Technologies, Inc. Terms of the transaction, which is
    expected to be complete on or before August 31, 2007, were not
    disclosed.

    The acquisition of Whitehill will solidify Skywire Software's
    position as a dominant, vertically focused software company and
    continue its aggressive global expansion in serving insurance,
    financial services and other key, high-growth industries. Whitehill
    provides document and compliance software that helps insurance
    carriers, law firms and other companies improve efficiency and speed
    of key business processes. Based in Moncton, New Brunswick, Whitehill
    is a privately-held, profitable company with a major center in
    Markham, Ontario, and offices in the U.S. and U.K. With the
    acquisition of Whitehill, Skywire Software will employ more than 650
    employees and serve nearly 2,500 customers in 45 countries.

    "This acquisition anchors our position as a leading provider of
    key software applications to insurers of all sizes and across all
    segments of the insurance industry," said Patrick Brandt, president
    and chief executive officer of Skywire Software. "Whitehill offers an
    attractive complementary customer base and performance-driven talent.
    It fits well with our goal of providing the best customer service and
    technology in the industry, furthers our presence in key vertical
    markets, and enhances our presence on a global basis."

    Whitehill serves more than half of the largest insurance companies
    in North America. The company's document automation and regulatory
    compliance software complements Skywire Software's portfolio of
    software applications and services that assist insurers in managing
    the lifecycle of a policy.

    Skywire Software's enterprise-wide products span a range of key
    functions including rating and underwriting, policy production and
    correspondence, real-time data exchange and business intelligence.
    Customers also leverage the deep domain knowledge and expertise of
    Skywire Software's professional services team and its state-of-the-art
    Business Process Outsourcing facilities. Currently, Skywire Software
    serves more than 1,000 insurance companies.

    According to industry research and advisory firm, Celent LLC,
    document management accounts for four of the top five categories
    tracking in software deals in the insurance industry. This acquisition
    positions Skywire Software as a leader in a highly-fragmented market.

    Skywire Software's vertical focus will expand to include legal and
    professional services. Over the past decade Whitehill has provided
    billing, reporting, workflow, and process integration software and
    services tailored to the specialized needs of these sectors. Whitehill
    currently serves more than 750 legal and professional services
    organizations, including two thirds of the world's 250 largest law
    firms.

    "It's incredible the number of synergies between Skywire Software
    and Whitehill's offerings, customers and employees," said Paul
    McSpurren, president and chief executive officer of Whitehill
    Technologies. "We look forward to combining with Skywire Software to
    continue serving the legal and insurance markets, and building one of
    the top vertically focused software companies fueled by innovation,
    talent and a drive to provide outstanding customer service."

    Current Whitehill customers should expect business to continue
    without interruption. The shared vision to build upon the domain
    expertise, process knowledge and service delivery success of the
    combined companies was a key driver of the acquisition. The
    transaction continues Skywire Software's aggressive expansion, which
    has been fueled by organic growth and through nine previous
    acquisitions during the past four years. Earlier this year, Skywire
    Software completed the acquisitions of both Docucorp International and
    Integrated Insurance Technologies. Skywire Software is a
    privately-held subsidiary of Hall Financial Group, a $2 billion
    private, diversified firm.

    About Skywire Software

    Skywire Software is a leading software company serving the
    insurance, health care, utility, and financial services industries.
    The Company develops industry-specific software products that help
    companies integrate processes, people and information. With products
    and services that span a range of key functions, including rating,
    rules, underwriting, business intelligence, agency management, data
    movement, and enterprise-wide document automation, Skywire Software is
    dedicated to providing an unparalleled customer experience to more
    than 1,600 customers worldwide. For more information, contact Skywire
    Software at 1-800-735-6620 or visit www.skywiresoftware.com.

    About Whitehill Technologies, Inc.

    Whitehill Technologies, Inc. develops and implements document and
    compliance automation solutions that help customers accelerate key
    business processes. More than 1,000 customers in 45 countries have
    used Whitehill software, including half the largest 100 insurers in
    North America and two thirds of the largest 250 law firms in the
    world. Headquartered in Moncton, New Brunswick, Canada, Whitehill is a
    privately held company in Canada, the United States and the U.K. For
    more information, please call 1-888-944-8344 or visit
    www.whitehilltech.com.

    About Hall Financial Group

    Founded in 1968, Hall Financial Group is owned by Chairman Craig
    Hall and family. Diversified holdings include active operations in
    commercial real estate development, ownership and management; software
    application development, principally for the insurance industry;
    structured finance lending for real estate and other areas; vineyards
    and wineries; and oil and gas. In addition, the company maintains a
    portfolio of approximately $1.5 billion in stocks, bonds and venture
    capital investments in a broad range of industries, including a
    substantial ownership position in American Airlines (AMR). For more
    information, visit www.hallfinancial.com.

    (C) Skywire Software is a registered trademark. All other names,
    brands or products referenced are the service marks, trademarks or
    registered trademarks of their respective companies. All rights
    reserved.