Viking Capital Eyes Liaise Proprietary Software, Signs Acquisition Papers

Viking Capital Group Inc. of Dallas has taken purchase talks to the next level, signing a memorandum of understanding to acquire Liaise Systems II Inc., based in Walnut Creek, CA., in a stock-for-stock exchange. It’s anticipated the deal will close in the fourth quarter although a date has not been set.

Liaise’s appeal is a specialized multi-insurance company software system tailored for financial institutions that want to use the Internet to offer insurance products to customers. Liaise says revenues of about $1.3 million from $7.55 million in written premiums will be realized in the next 12 months with its specialized offerings.

For Viking, the acquisition means the addition of a proprietary software – LifeTech Internet Point-of-Sale system – that is market-tested for insurance sales and service administration. It also meets one of Viking’s goals for generating fee income by providing insurancy agency sales and service administration processing services. The Liaise software provides a secure intranet-based, end-to-end solution for insurance sales in either a direct-to-customer or platform agent system, with features such as multiple carrier quoting and real-time underwriting status reporting.