Toronto's Kanetix has been acquired by Monitor Clipper Partners (MCP), a Cambridge, Massachusetts-based private equity firm.
Kanetix has also named Yousry Bissada as president and CEO, effective immediately. Its co-founders, George Small and Gregory Ellis, will retain significant stakes in Kanetix, each holding a position on the newly created board of directors.
"Facilitating the partnership of Kanetix, a company rich in opportunity, the financial and strategic resources of MCP and the proven leadership success of Yousry Bissada creates a real opportunity for the insurance industry," said Ellis.
Small added, "Gregory and I are proud to have worked with the Kanetix team over the past decade and to have built a company MCP sees as an opportunity for global growth. We are confident the partnership and new leadership will demonstrate amazing results."
We make it easy for Canadians to shop for insurance. kanetix is Canada's one-stop insurance shop, providing consumers with insurance information... [more]
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