i-flex picks up equity stake in Castek

i-flex solutions, a leading finacial service solution provider, has entered into a strategic alliance with Castek Software, a Toronto based provider of insurance systems for the global Property & Casualty (P&C) insurance industry.

According to a release issued by i-flex to the BSE, the strategic alliance allows the company to become the largest shareholder of Castek Sofware.

The release further added that R Ravishankar, CEO International operations and business development of i-flex, has joined Castek's board of directors.

"Our investment in Castek creates a winning combination of i-flex's project and quality management skills built over a decade coupled with Castek's advanced product intellectual property and domain expertise. We are committed to the insurance industry and this initiative is in line with our mission of enabling financial institutions worldwide to excel through the use of technology," says Ravisankar.