Mindtree, a global technology services company, today announced that it has entered into definitive agreements to acquire Discoverture Solutions LLC (Discoverture), a leading provider of insurance solutions based in the US.

Discoverture has a strong track-record of deploying solutions based on major P&C insurance platforms, enabling clients to transition to a more modern, agile environment. The addition of Discoverture, combined with Mindtree's existing range of technology services and consulting combine for a full-suite of offerings to transform and run a world-class insurance technology platform.

Krishnakumar Natarajan, CEO and MD, Mindtree said, ''We continue to successfully implement our strategy of establishing deep expertise in our targeted industry sectors. This acquisition accelerates our journey to be amongst the Top 3 service providers in the Global P&C services industry.''

Gaurav Johri, senior vice president, banking financial services and insurance, Mindtree, said, ''P&C insurers must continuously modernize technology and processes to drive business efficiencies and provide an experience that delights their customers. The combination of Mindtree's P&C expertise with Discoverture's capabilities will result in a world-class team which will rank among the leaders in this space.''

Steve Addair, president, Discoverture said, ''We are excited to be part of the Mindtree team and add our technology and expertise to its large and growing insurance practice. As part of Mindtree, we can now engage our proven skills and technology with its full service capabilities to deliver greater value to insurance clients.''

Shares of the company declined Rs 31.10, or 2.20%, to trade at Rs 1,381.50 at the BSE (10.07 a.m., Tuesday).