OREM, Utah, August 14, 2012 — Xactware, a leading provider of estimating, analytics, and management technology for the property insurance, remodeling, and restoration industries, has chosen to locate its new 210,000-square-foot headquarters at Traverse Mountain in Lehi, Utah.
The building, which will be located near Timpanogos Highway in the Traverse Mountain Business Park, is projected to be completed by February 2014. The environmentally friendly and highly energy-efficient building will be constructed to the U.S. Green Building Council’s LEED Silver certification standard.
The new Xactware campus will be located just two miles from the new Thanksgiving Point FrontRunner station and within walking distance of a future TRAX station and the new Murdock Canal Trail system. The facility will feature a state-of-the-art data center, beach volleyball courts, basketball courts, and a fitness center.
“We are very excited that Xactware has decided to come to Lehi,” said Lehi’s mayor, Bert Wilson. “We are building our own little Silicon Valley out here, and we are thrilled to have yet another high-tech business come to our city. The employees Xactware brings are nothing but high-caliber.”
Founded in 1986, Xactware develops computer and mobile software solutions for professionals involved in estimating all phases of building and repair — from remodeling to total building replacement and from calculating a structure’s replacement value to preserving and repairing a home. Xactware is a subsidiary of Verisk Analytics (Nasdaq:VRSK), a leading source of information about risk.
About 80 percent of insurance repair contractors and 19 of the top 25 U.S. property insurers rely on Xactware’s products to estimate structural repair costs. With customers in North America and Europe, Xactware’s servers process more than 14,000 claims files each day.
“Xactware has experienced phenomenal historical growth by tapping into Utah’s hard-working and intelligent high-tech workforce,” said Jim Loveland, Xactware’s president and CEO. “We’re pleased to be able to continue our growth and build on the strength of our Utah roots.”
Xactware will host a groundbreaking ceremony for the new building on August 23 at noon.
Xactware Solutions (Xactware) is a Verisk Analytics (Nasdaq:VRSK) company that specializes in the property insurance, remodeling, and restoration industries. Xactware’s technology tools include software estimating programs for PCs and tablet PCs, as well as powerful online systems for replacement-cost calculations, estimate tracking, and data trending in real time. For more information about Xactware’s products and services, contact Xactware at 1-800-424-9228 or www.xactware.com.