Majesco Makes Strategic Moves to Accelerate Cloud Growth
Summary
MORRISTOWN, N.J.--( BUSINESS WIRE )--Majesco (NYSE American: MJCO), a global provider of cloud insurance software solutions for insurance business transformation, today announced the filing of a registration statement relating to a rights offering to all shareholders in which it expects its parent company will invest an estimated $35 million that it raised through a Qualified Institutional Placement in India in February 2018.The new capital will provide the necessary funding for the remainder of the acquisition of Exaxe, a leading cloud software company serving a growing list of top European insurers and headquartered in Dublin, Ireland that was announced on November 27, 2018.Exaxe cloud software is recognized for significantly improving customer experience, reduced implementation times and speed to market for new products with operational efficiency.Questions about the rights offering or requests for copies of the preliminary prospectus may be directed to Majesco’s Information Agent, Broadridge Corporate Issuer Solutions, Inc., by email at Shareholder@Broadridge.com or by telephone at 888-789-8409.These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty.
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