Triple P Capital buys insurance IT solutions provider Contemi
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Singapore
SINGAPORE-BASED private equity impact investing fund Triple P Capital announced on Friday that it has acquired Contemi Group, an insurance IT solutions provider that operates chiefly in Asia and Scandinavia.
Triple P Capital said it decided to enter the insurance IT market and acquire Contemi as it sees rapid growth and innovation in the IT market for insurance. It told The Business Times that it has injected US$5 million into Contemi so far, and plans to increase its investment as the company gains traction with its strategies.
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