Majesco joins the world’s most powerful and influential cloud platform brands on NASDAQ
Majesco Moves Stock Exchange Listing to NASDAQ
Deepthi | Myequity news | Date : 15-02-2019 09:06:00 IST
Majesco, a global provider of cloud insurance software solutions for insurance business transformation, today announced that its board of directors has approved the switching of the listing of its common stock from the New York Stock Exchange-American to The NASDAQ Stock Market LLC®. Effective February 26, 2019, the company is expected to commence trading on the Nasdaq Global Stock Market under the symbol NASDAQ: MJCO.
“As a software company that moves fast and thrives on change, we’re excited about the transfer to NASDAQ, home to many of the world’s leading cloud providers,” said Majesco CEO Adam Elster. “Majesco’s mission is to buildthe futureof insuranceby providing cutting-edgetechnology, expertiseand leadership to help insurers deliver value and innovation as quickly as their business and customers demand. Listing our common stock on NASDAQ is another important step in our plan to grow our cloud business and create sustained value for our customers and shareholders.”
Majesco recently reported third quarter financial results, reflecting the growing success of its cloud strategy with a 51% increase in cloud revenues year-over-year for the quarter, now representing 42% of the company’s total revenue.
Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance. Approximately 160 insurance companies worldwide in P&C, L&A and Group/ Employee Benefits are transforming their businesses with Majesco’s solutions. Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digitalplatform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.