AgencyBloc has acquired GBS, a Colorado-based software firm that specialises in insurance agency management software development, for an undisclosed sum.

Commenting on the deal, AgencyBloc president Adam Lewis said: “We couldn’t be more excited about this opportunity. This acquisition is an opportunity to continue to learn and serve the needs of our industry.

“Our entire team is energised by this acquisition which will only add fuel to the pace at which we improve our product and services.”

GBS president Richard Seale said: “Adam and Cory are good guys with a great system. I’ve seen a lot in this industry over the last several decades, and I’m confident AgencyBloc is positioned to take not only GBS clients to the next level, but any life/health agency looking to grow.”

Over the last three years, AgencyBloc has gained 45% year-over-year client and revenue growth. With this takeover of GBS, AgencyBloc plans to maintain its expansion.

Founded in 2008, AgencyBloc operates as an agency management system and commissions processing software provider for life and health insurance agencies.

AgencyBloc uses a grouping of an industry-specific CRM, commissions processing, and integrated marketing automation, which enables life and health insurance agencies to organise and automate their operations and reap the benefit of growing business.