Utrecht/Ballerup, 3 January 2018 – Forsikringens Datacenter A/S (“FDC”), one of Scandinavia’s largest suppliers of IT solutions for the insurance and pension industry joins Total Specific Solutions (“TSS”). With this acquisition, TSS enters the Danish software market and strengthens its foothold in the finance vertical.
FDC was founded over 50 years ago through a collaboration of several insurance companies. This means that FDC has a profound knowledge of the insurance industry as well as the software market. The F2100 Life & Pension solution covers the private insurance, company insurance, occupational pensions needs as well as the Norwegian benefit pensions, and civil service pensions. The Unit Link module offers additional services on top of the F2100 Life & Pension solution. The F2100 Non-Life & Health solution is a full management system with event, customer, and policy treatment, including automated claims handling, deposits, and payouts.
Birthe Elkjær, the Managing Director of FDC: “We will now be part of a major software operating group while remaining an independent business unit with our own identity. The TSS perpetual ownership principle and decentralized operational model matches a company such as FDC that has been operating independently since 1965. Being part of TSS gives us access to all the best practices in running successful vertical market software (VMS) companies: from operational best practices to new vertical insights from other TSS business units that are active in servicing financial institutions. Their knowledge of evolving large complex IT solutions to contemporary platforms will provide the expertise to improve our value proposition. Furthermore, the acquisition gives us the scope and financial strength so we can facilitate growth in the Nordic region.”
Ramon Zanders, General Manager at Total Specific Solutions: “FDC is a true vertical market software company and fits in well with the TSS group. It is our entry into the Danish market and second acquisition in the Nordic countries within the past 12 months. Domain knowledge is embedded in FDC’s DNA, as the company was previously owned by three large customers in the insurance industry. Being part of TSS, FDC will be able to leverage our know-how, financial strength and VMS operating experience needed for renewed focus and growth. TSS consists of many different business units in various vertical markets, and we have many best practices that will help FDC take the next steps in strengthening and growing their foothold in the market. Having such a renowned software company as FDC joining TSS will help us further establish ourselves in the Nordics.”
As board chairman of FDC, Allan Luplau, CEO of Sygeforsikringen “danmark”, states:
“Through the recent years, FDC has received numerous enquiries from potential buyers. As owners, we are always obliged to assess if we are the right owners of the company or if a new owner could add more value to the company, to the benefit of the customers as well as the employees. The owners of FDC have assessed that this is the case with the sale of FDC to TSS.
As enduring customers of FDC, we feel confident about the sale of FDC to TSS, which has a reliable and proven background in ownership of IT companies. Furthermore, FDC can draw on TSS’s and CSI’s global IT experience, which will benefit FDC’s customers.
As owners, we are proud to hand over FDC, which is in very good shape, financially as well as having a solid customer base, to TSS.”
FDC’s shareholders were Gjensidige, Bupa Global and Sygeforsikringen “danmark”.
FDC A/S supplies IT solutions to the insurance and pension sector and has a broad reach and large customer base totaling more than 7 million policies in Denmark, Norway and Sweden with tailored and specific software solutions. FDC A/S is based in Ballerup, Denmark. More information on the website: www.fdc.dk/en.
Total Specific Solutions
Total Specific Solutions is the leading provider of IT business solutions and consists of independent business units that deliver products and services to their specific vertical market segments. This market expertise is based on decades of experience. TSS is active in the verticals healthcare, local and central government, retail, financial and legal services, accountancy, associations, and real estate. TSS is part of Constellation Software Inc. (CSI), a public company listed on the Canadian Stock Exchange. More information on the website: www.totalspecificsolutions.com.
Forsikringens Datacenter A/S (FDC)
Birthe Elkjær, Managing Director
Tel.: +45 44 65 45 00
Total Specific Solutions (TSS)
Ramon Zanders, General Manager
Tel.: +31 (0)88 660 33 33
You can find more information on Constellation Software Inc. on their website www.csisoftware.com. If you have questions regarding this press release, please contact:
Constellation Software Inc.
Jamal Baksh, Chief Financial Officer
Tel: +1 (416) 861-9677