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FOR IMMEDIATE RELEASE
AMS Services acquires InStar Corporation
Bothell, WA - June 21, 2005 – AMS Services announced today that it has acquired InStar Corporation, a Washington-based developer of fully integrated agency management solutions for both retail and wholesale/MGA insurance industry segments.
"The acquisition of InStar’s business operations strengthens AMS Services’ position as the pre-eminent provider of solutions facilitating independent agent and broker productivity and carrier/agent connectivity," stated Euan Menzies, AMS Services president. "The InStar team is a great addition to AMS. With the addition of InStar's customers we are strengthening our presence and extending our strong customer base with 1,000 new agencies. We will be bringing additional value-added solutions to InStar customers such as real-time connectivity to carriers through TransactNOW."
"The combined organization offers the best technology and solutions for our customers, including products such as AMS 360, a state-of-the-art technology with the design and architecture to meet the rigorous demands of the evolving future," said Ken French, president and chief executive officer of InStar. "We are looking forward to working with AMS, and will be ensuring that the transition is not disruptive for our clients and employees."
Financial terms between the two privately held firms were not disclosed. Ken French, president and CEO and Tom Hatcher, VP of InStar Corporation will continue with the company. AMS will maintain an office in Kennewick, Washington and will continue to provide service and support for InStar customers.
About AMS Services
AMS Services is a leading provider of innovative software products and services for independent insurance agents, brokers, carriers, banks, managing general agents and other distributors of insurance and financial services. AMS technology solutions are the main desktop applications for agencies of all sizes and help improve agent productivity and carrier/agent connectivity. To learn more about AMS products and services, call 800.444.4813 or visit our Web site at www.amsworld.com.
About InStar Corporation
InStar Corporation develops and supports fully integrated agency management automation solutions for both retail and wholesale/MGA insurance industry segments. Their software is noted for its ease of use and intuitive, comprehensive workflow design. Headquartered in Kennewick, WA, InStar has over 7,000 using their software. www.instarcorp.com
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