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i-flex buys out Castek

HYDERABAD: i-flex Solutions has acquired 100 per cent stake in the Toronto-based Castek Software, a Canadian provider of core insurance-business processing systems for insurers. In a press release, MD and CEO, i-flex, N. R. K. Raman, said Castek’s product was proven and being used largely by North American customers. With a great potential to expand, i-flex could offer insurance companies a scalable model of onsite, near shore and offshore services. — Special Correspondent

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