Ness Technologies has acquired Shore Technologies for $1 million. Shore, founded in 1999, develops and applies Internet infrastructures for the insurance sector. The company's main customer is reinsurance company Swiss Re. The acquisition includes all of Shore's activity, contracts, and employees.

Ness has recently acquired a number of companies, including US company Blueflame for $5 million. Ness Technologies president and CEO Raviv Zoller said today that his company was still looking for acquisition opportunities in Israel and overseas.

Shore Technologies raised over $3 million from founder Uri Raz (also a cofounder of AppStream), Brack Capital Holdings, Samurai Web Ventures, and other investors. In 2001, following the high-tech crisis, the company investors decided to curtail its activity and focus on the main project with Swiss Re.