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SINGAPORE, 22 June 2021 — Azentio Software (“Azentio” or the “Company”), a Singapore-headquartered software products business owned by Funds advised by Apax, is pleased to announce that it has acquired Candela Labs, a technology firm specialising in automation and digital solutions for insurance firms. This is Azentio’s first acquisition as an independent company following its carve out from 3i Infotech in 2020.

Candela Labs, which has over 250 employees across 7 countries, is an ‘Intelligent Automation’ solutions specialist that helps make insurance firms and banks more agile, efficient and effective. Candela Labs focuses on transforming processes around customer experience, acquisitions, service, underwriting and claims. Its portfolio of customers includes marquee insurers and banks across APAC and Africa.

This acquisition is an important building block in Azentio’s growth plans as it looks to become the preeminent BFSI led technology products company in the high-growth APAC and MEA markets. Candela Labs brings to Azentio cutting-edge intelligent automation products, a portfolio of blue-chip clients across Asia Pacific and Africa, and a strong team with deep domain and technical capabilities. The two companies have strong synergies that offer a significant advantage to insurance providers and banks, combining Azentio’s robust core insurance and core banking engines with Candela Labs’ intelligent process automation and digital front-end products.

Tony Kinnear, CEO, Azentio, commented: “We are on a mission to transform Azentio into a regional software leader and today’s acquisition is an important step in achieving this vision. Candela Labs are dedicated insurance specialists with a reputation for excellence in this sector and their skills and products will help bolster our offering in this space. We believe that our complementary skills, our shared commitment to client service and our joint vision for the future will be a winning formula and we are excited to welcome the people and clients of Candela Labs into the fold.”

Arsh Maini, CEO, Candela Labs, said: “For over two decades, Candela Labs has been a crucial technology partner to the insurance sector, and I am extremely proud of what we have achieved in that time. We believe that now is the right time for Candela Labs’ next chapter, and that joining Azentio is the right next step for the company. The Azentio team have ambitious growth plans and a clear vision for the future and we are excited to be a part of that journey, whilst continuing to provide the core products and services that our clients have come to rely on.”

Romil Turakhia, Co-founder and Executive Director – Innovation, Candela Labs, added: “We see a significant opportunity in the insurance and banking technology space moving forward, especially in the high-growth Asia-Pacific, Middle East and Africa markets. Today’s announcement is a significant milestone for the Candela Labs team, and we now look forward to our next phase of growth as an integral part of Azentio.”

Media Contacts:
Clara Tan
Redhill Singapore
clara@redhill.asia

About Azentio

Azentio Software is a newly formed company in 2020 that has been carved out of 3i Infotech, a global information technology company. Azentio Software provides mission critical, vertical-specific software products for customers in banking, financial services and insurance verticals and includes key products such as Kastle™ (universal banking platform), Amlock™ (compliance software suite), Premia™ Astra (core insurance software), Orion™ (enterprise resource planning software) and MFund Plus™ (asset management platform). Azentio has over 700 customers in more than 48 countries with a strong team of over 1,600 employees across offices in 9 countries globally.

About Candela Labs

Candela Labs (Automated Workflow Private Limited) is an IP-led intelligent automation company providing core process automation and customer engagement solutions to insurance providers and banks. The company’s products are built on their Cloud-native, Microservices and Open-standards based platform, and delivered using their proprietary Labs-to-Live approach. Candela Labs’ portfolio of customers include blue-chip insurers and banks across APAC and Africa. The company has over 250 employees across 7 countries. To learn more, please visit www.candelalabs.io

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A leading trading entity in U.A.E. selects Orion™11j

We are excited to announce that a prominent trading company offering customized solutions for Plant and Machinery requirements, has selected Orion™ ERP to upgrade their legacy systems to meet the company’s growth.

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Leading Ethiopian bank selects Amlock™

A leading Ethiopian private commercial bank has selected Amlock™, Azentio’s Financial Crime Detection and Management Solution, to ensure compliance with Ethiopian and international anti-money laundering (AML) regulations.

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GA Insurance, Kenya upgrades to Azentio Insurance’s Premia™ Astra

Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds managed by Apax Partners, announced today that National Bonds, the UAE’s leading Shariah-compliant savings and investment company owned by the Investment Corporation of Dubai, has selected Azentio’s market leading Islamic Banking solution, iMAL, to support its quest to improve process efficiency, enhance internal controls and deliver an exceptional customer experience as part of National Bonds ambitious growth strategy.

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A leading life insurer in Thailand chooses Azentio Digital Solutions

A leading Life Insurer in Thailand has gone live with Azentio Insurance’s document management system in September 2021. The client is an existing user of Azentio Insurance’s group life core solution – a dynamic, bilingual advanced application with innovative process automation features and a proven track record of benefitting life insurers globally.

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A leading insurer in Thailand has gone live with Azentio™ digital solutions

A leading insurer in Thailand has gone live with Azentio™ Insurance’s digital policy servicing and digital claims transactions solutions helping bring basic automation and ensuring their team can perform their daily operations from home during the pandemic.

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Ghanaian fintech start-up selects Amlock™

A cutting edge fintech start-up based out of Ghana has chosen Amlock™, Azentio’s Financial Crime Detection and Management Solution, to meet its anti-money laundering (AML) compliance and international money transfer monitoring requirements.

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Shinhan Life Insurance, Vietnam Chooses Azentio's Portal Solutions

Shinhan Life Insurance, Vietnam (SHLV), a life insurance subsidiary of Shinhan Financial Group, Korea chooses Premia’s™ end-to-end bilingual web portal solution. The digital front-end is an interactive insurance solution helping insurance companies increase cost savings and sales capabilities.

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A leading insurer in the Philippines selects Premia™ Astra

A leading insurer in Philippines, has selected Premia™ Astra, an end-to-end integrated solution built on contemporary technology. Implementing the solution will help the insurer deliver better quality products and services and engage strongly with their customers.

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A Leading Japanese Insurer Chooses Azentio's Digital Solutions

A leading Japanese non-life Insurance service provider has chosen Premia’s™ eCargo web portal, claims mobile application, and motor mobile application, part of Premia’s™ digital solutions to strengthen its operations in Egypt.

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Fidelity Printers and Refiners Pvt. Ltd. goes live with Orion™11j ERP

We are happy to announce that Fidelity Printers and Refiners Pvt. Ltd. – Zimbabwe, has gone live with Orion™11j ERP. This programme was completed in just four months starting from April 2021. The first phase of the programme went live in August 2021 and the project is on track to complete two additional modules shortly.

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Al Huraiz Est. goes live with Orion™11j ERP Suite

We are delighted to announce that Al Huraiz Est., a conglomerate in the UAE dealing in a wide range of industrial verticals, has gone live with our Orion™11j ERP suite.

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Azentio Software acquires Path Solutions

Azentio is pleased to announce the signing of a binding agreement to acquire certain software assets from Path Solutions (including the flagship products iMAL™, iShraq™, Path Digital and Path Analytics), a leading provider of core banking software.

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AFNIC selects Orion™11j

Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds managed by Apax Partners, announced today that National Bonds, the UAE’s leading Shariah-compliant savings and investment company owned by the Investment Corporation of Dubai, has selected Azentio’s market leading Islamic Banking solution, iMAL, to support its quest to improve process efficiency, enhance internal controls and deliver an exceptional customer experience as part of National Bonds ambitious growth strategy.

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MFund Plus™ recognized in The Wealth Mosaic’s APAC WealthTech Landscape Report 2021

MFund Plus™ – Wealth & Asset Management Platform recognized in The Wealth Mosaic’s APAC WealthTech Landscape Report 2021

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An Insurtech leader excels in global market expansion by embracing adaptive transformation

Romil Turakhia, Head of Markets at Azentio in conversation with the team from Co Mantis, our partner in Europe.

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CEO, Anthony Kinnear’s interview in Mergermarket

Apax Partners–backed Azentio flags Asia, MEA as key markets for organic growth, bolt-on

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Azentio Software announces the acquisition of Beyontec Solutions

Azentio Software is pleased to announce that it has signed a binding agreement to acquire Beyontec, a leading insurance technology company.

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Azentio Software Acquires Candela Labs

Azentio Software is pleased to announce that it has acquired Candela Labs, a technology firm specialising in automation and digital solutions for insurance firms.

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Azentio Software ranked among top players by the IBS Intelligence Sales League Table 2021

Azentio Software’s products Kastle™ Universal Lending Solution and Amlock™ make it to the IBSI SLT Leadership Club 2021.

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Azentio Software appoints Tony Kinnear as CEO

Azentio Software (“Azentio” or the “Company”), a Singapore-headquartered software products business owned by Funds advised by Apax, is pleased to announce that it has appointed Tony Kinnear to the role of Chief Executive Officer (CEO), effective immediately.

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Azentio Software, a wholly owned company by Apax Partners, acquires 3i Infotech’s software product business

3i Infotech Limited, a global information technology company, today announced that it has entered into a definitive agreement to sell its Software Products business to funds advised by Apax Partners, for a total consideration of INR 10 billion.

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