BEDFORD — Three months after relocating its headquarters, a local business has been acquired by a Wisconsin-based company.
MiEdge, a provider of lead generation, data analytics and prospecting solutions for the insurance and financial services industry, announced last week that it has been acquired by Zywave.
“This acquisition is a strategic acquisition, and it is a growth-based acquisition that we are really excited about,” said Mark Smith, founder and CEO of miEdge.
Smith, along with his staff, will join Zywave in a leadership capacity focusing on integration operations.
According to Smith, the acquisition will bring miEdge into a larger organization with greater resources.
“MiEdge believes the future of the insurance industry will be grounded on two foundational principles — data and content. When we combine miEdge’s data with Zywave’s unparalleled content offering, the result will be transformational,” he said in a statement.
With the new partnership, Smith said Friday that customers will have access to broader capabilities, which will help foster growth.
In September, miEdge relocated its headquarters to new offices at 10 Corporate Drive and continues to expand its “technical product development, sales and customer service teams,” according to its website. The company currently has more than 8,000 users, and has grown more than 50 percent since its launch in 2012.
According to Smith, miEdge has 35 employees at its Bedford location, in addition to 15 consultants outside of the Granite State.
“This is just the next chapter for Zywave. We will continue to see growth in headcount in New Hampshire, and it should result in an even stronger tech presence in New Hampshire,” Jason Liu, Zywave’s CEO, said of the acquisition.
According to a release, more than 80 of the nation’s top insurance brokers, as well as national and regional insurance carriers, utilize miEdge’s data to assist their businesses.
The acquisition is the third acquisition for Zywave in more than a year, said Liu.
With more than 400 employees at Zywave currently, Liu said the company plans on doubling its size in the next three to five years, stressing the New Hampshire team will be the cornerstone of the company’s data strategy.
“We expect to have that team grow and thrive,” he added.
According to Liu, the addition of the miEdge team of data services experts will allow Zywave to significantly expand its existing data services division.
“The expanded team will work to further integrate miEdge data into Zywave’s Product Cloud Portfolios,” states the release, adding the partnership will offer a powerful and precise prospecting tool for agency owners and brokers.