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Business Observer Friday, Mar. 4, 2016 3 years ago

Corporate report

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India company buys firm for $460 million; Real estate brokerage names CEO; Window maker closes $100 million acquisition; Real estate society names president; IT firm recognized for service
by: Steven Benna Staff Writer

TAMPA BAY
India company buys firm for $460 million

India-based Wipro Ltd. acquired HealthPlan Services, a privately held Tampa firm that connects health insurance clients to public and private exchanges nationwide.

Wipro paid $460 million for HealthPlan Services, according to a release.

HealthPlan Services is one of the largest independent companies that handles sales, benefits administration and technology in the insurance and managed care industries. Jeff Bak, president and CEO of HealthPlan Services and an Ernst & Young Entrepreneur of the year finalist in 2014, says “the combination creates the first true end-to-end solution in the induvidual-under-65 commercial market and the governmental-over-65 and Medicaid markets.”

Wipro is an IT, consulting and business process services company headquartered in Bengaluru, India. The company has more than 160,000 employees and serves clients in more than 175 cities globally.

SARASOTA-MANATEE
Real estate brokerage names CEO

Keller Williams on the Water, a residential, commercial and luxury real estate firm, named Craig Copeman CEO and team leader of the firm's downtown Bradenton office, according to a statement.

Copeman joined Keller Williams in 2012, the statement says. He specializes in residential and commercial investment real estate.

“This company promotes an agent-centric business model that focuses on cutting edge training, profit sharing and wealth building opportunities,” Copeman says in the statement. “My objective is to elevate my agents to their highest potential.”

Window maker closes $100 million acquisition
PGT Inc., a Venice-based impact-resistant window and door manufacturer, closed on the deal to acquire WinDoor, which makes high performance windows and doors for five-star resorts, luxury condos, hotels and custom homes.

WinDoor Inc., now a wholly owned subsidiary of PGT, will remain a separate brand and will continue to operate in Orlando, a statement says. PGT paid $102 million for WinDoor. “Their innovative products, attention to detail and family-oriented culture make them the perfect addition to our organization,” says Rod Hershberger, PGT chairman and CEO, in the statement.

PGT has now closed on two major acquisitions in the last two years. The other deal, in July 2014, was a $111 million acquisition of Miami-based CGI Windows & Doors. One of the largest firms in the region in employees, PGT (symbol PGTI; recent price: $9.51) plans to hire at least 100 people in 2016.

CHARLOTTE-LEE-COLLIER
Real estate society names president

Amanda Brock, an attorney with the law firm of Henderson, Franklin, Starnes & Holt, P.A., was named president of the Real Estate Investment Society of Southwest Florida (REIS), according to a release.

Brock's practice is focused primarily on land use and environmental law. She handles matters involving zoning, development approvals, environmental compliance, property tax appeals and contaminated-site remediation, the statement says.

IT firm recognized for service
Entech, a Fort Myers-based IT managed services and consulting firm, was chosen by CRN as one of the top 250 IT providers in the nation, according to a release.

The annual list recognizes North American IT companies. This marks the fifth straight year Entech was named to the list. “CRN is a leader in our industry and we're proud to be recognized as an organization that earns the trust of our clients by providing 15-minute response times and business centric technology strategy,” says Entech CMO Kyle Cebull in the statement.

Founded in 1998, Entech specializes in managed IT services for businesses with user counts ranging from 20 into the hundreds.

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