Stoch Analytics Acquires Atlas Software Business From Oliver Wyman; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Stoch Analytics Limited, a new private company in Ireland, has acquired the Atlas software suite from Oliver Wyman, a part of Marsh McLennan (NYSE:MMC). Chris Stiefeling, formerly of Oliver Wyman, is now CEO of Stoch Analytics. The Atlas platform is used by life insurance companies for various actuarial tasks and is well-positioned to meet new regulatory demands. Stoch Analytics plans to focus on developing and marketing stochastic modeling solutions for the life insurance industry.
December 18, 2023 | 1:19 pm
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Marsh McLennan (NYSE:MMC) has sold its Atlas software suite to Stoch Analytics. The sale could streamline MMC's operations and focus, while continuing a partnership with Stoch Analytics.
The financial terms of the acquisition were not disclosed, making it difficult to assess the direct financial impact on MMC. However, the sale of a non-core asset like the Atlas software suite could be seen as a positive move to streamline operations. The continued partnership with Stoch Analytics suggests a strategic decision rather than a complete exit, which may mitigate any negative impact. The short-term impact on MMC's stock price is likely to be neutral, as the deal may not be material to MMC's overall business.
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