SAP Buys Insurance Software-Writer Camilion

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German database giant SAPannounced Thursday that it intends to acquire insurance underwriting-software producer Camilion for an undisclosed sum.

In a statement describing the acquisition, SAP explained that it wanted to broaden its exposure to the insurance industry, and offer insurers software tools to streamline the management and creation of new products. In this vein, SAP said that Camilion's software enables insurers to perform "instant analysis and simulation across huge volumes of data." This means that SAP can now offer one-stop shopping for its insurance customers: "An integrated yet modular end-to-end insurance offering: the SAP Business All-in-One solution for Insurance."

Investors appear to like the news. Shares of SAP rose 0.9% in Thursday trading, to close at $83.44.

The article SAP Buys Insurance Software-Writer Camilion originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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