Insight Center: News

Pepper Hamilton Represents Majesco in Public Merger and Listing

Pepper Hamilton Represents Majesco in Public Merger and Listing

Attorneys Advise Majesco in Definitive Merger Agreement with Cover-All Technologies and Listing on NYSE MKT

Pepper Hamilton, a multi-practice law firm and a trusted acquisitions and dispositions advisor, announced its involvement in representing Majesco (formerly MajescoMastek), a global provider of core insurance software, consulting and services for  insurance business transformation in the merger of NYSE MKT-listed Cover-All Technologies Inc., a leading provider of innovative and modern P/C insurance technology solutions with Majesco.

The stock-for-stock merger closed on June 26 following the de-merger of Majesco from Mastek Limited and worldwide reorganization of its insurance business under Majesco. In connection with the closing of the merger, Majesco began trading on the NYSE MKT under the ticker “MJCO.”

Today, the combined company has more than $100 million in estimated annual revenue and approximately 140 insurance customers worldwide.

Majesco has been a long-time client of Pepper Hamilton’s U.S.-India Practice Group – consisting of a team of attorneys devoted to serving U.S. clients investing and operating in India and vice versa. Valérie Demont, partner in the Corporate and Securities Practice Group of Pepper Hamilton and head of the firm’s U.S.–India Practice, and James D. Rosener, partner in the Commercial Department of Pepper Hamilton and head of the firm’s International Practice Group, were the lead corporate partners in advising the deal with George A. Esposito Jr., David P. Russo and Patrick J. Bianchi.

“We are pleased to represent Majesco in this transformative transaction for Majesco and continue to advise the company on its transaction growth strategy in the software and IT services industry,” said Demont. “This was truly a collaborative effort among Pepper’s transactional teams, including corporate, tax and employee benefits.”

Pepper Hamilton other specialist attorneys involved in the deal include Timothy J. Leska (partner in the Tax Practice Group), David A. Wormser (partner in the Commercial Department and Intellectual Property Practice Group), Barbara T. Sicalides (partner in the Commercial Litigation Practice Group), Benjamin Strauss (partner in the Commercial Department), Robert A. Friedel (partner in the Commercial Department) and Frank B. Tripodi (of counsel in the Employee Benefits Practice Group).

 “As the completion of the merger comes to a close, we could not be more appreciative of the dedication and work the Pepper Hamilton team put into this deal,” said Ketan Mehta, CEO and founder of Majesco. “Valerie, James and their team played a crucial role in positioning the combined organization as a leader in the insurance industry.”

About Majesco
Majesco enables insurance business transformation for approximately 140 insurance customers by providing solutions which include software, consulting and services.  Its customers include insurers, MGAs and other risk provides from the Property & Casualty, Life, Annuity and Group insurance segments worldwide.  Majesco delivers proven software solutions and IT services in core insurance areas including policy administration, billing, claims and distribution.

About Cover-All
Cover-All provides P/C insurance professionals a robust state-of-the-art, browser-based family of Policy, Business Intelligence, and Claims solutions designed to deliver products to market faster, enhance quality, ensure compliance, and reduce costs. With offices in Morristown, NJ, and Honolulu, HI, Cover-All continues its tradition of developing technology solutions designed to revolutionize the way P/C insurance business is conducted.