FORT WORTH - INSpire Insurance Solutions Inc. has announced an agreement by CGI Group Inc. to buy its operating assets for $8.2 million.
These business operations would be integrated within CGI and continue to offer complete policy and claims administration outsourcing, information technology outsourcing, and software services, the company said on Aug. 29. Through the acquisition, CGI would extend its ability to supply technology solutions to the insurance market and expand its business processing services capabilities.
INSpire, currently operating under Chapter 11 bankruptcy protection, has filed motions in U.S. Bankruptcy Court for the Northern District of Texas to begin the sale process. After evaluating all its alternatives, INSpire said, it concluded that a sale would be in the best interest of all its stakeholders.
The companies said they intend to close the deal as quickly as possible but that the timing depends on the court.
