Utrecht, 18 March 2014 - Waterland, a private equity company from Bussum, is acquiring a majority stake in Quinity, the supplier of standard software for insurance companies. Quinity is the market leader in the Netherlands but as yet has only limited operations abroad. Its aim is to become one of the leading players in Europe.
The CEO of Quinity, Ralf Timmer, says: “Backed by Waterland’s experience with internationalization, their network and their financial strength, we intend to acquire our position on the European market more quickly. In addition, Quinity will have access to valuable knowledge about life insurance thanks to cooperation with Actuera, another of Waterland’s shareholdings.”
“We believe in the potential of Quinity because of its excellent software platform, highly satisfied customers and strong track record in implementation,” says Rob Thielen, chairman of Waterland. “We are looking forward to helping Quinity’s management achieve their ambitions of becoming a leading European player.”
Two of the founders and directors will continue to run the company: Ralf Timmer as CEO and Jan van Reenen as CTO. Patrick van Driel will be leaving Quinity. Robert Guitink will remain involved in the development of QIS for the time being.