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TPG Capital is said to have hired Bank of America (NYSE: BAC) to explore a range of strategic alternatives including a sale of insurance technology leader Vertafore Inc., which it acquired in July 2010 for $1.4 billion from private-equity firms Hellman & Friedman and JMI Equity. TPG is hoping a deal will value Vertafore at more than $2.5 billion including debt, according to Reuters. The move comes less than two weeks after Vertafore closed the acquisition of Keal Technology, a leading provider of broker and commercial management systems in Canada. The acquisition of Keal came less than a year after Vertafore acquired QQSolutions, a Florida-based provider of cloud software to independent insurance agencies, and on the heels of over 250 product releases in 2015 across the entire Vertafore product portfolio. The pace of Vertafore’s new product innovation cascades through the largest customer base in the industry, including agencies, carriers, MGAs, MGUs and over half the U.S. state regulatory agencies. Vertafore, based in Bothell, Washington, offers the broadest and most adaptable technology solutions to better prepare the insurance industry for digital disruption. The Vertafore product line is built on a platform, empowering customers and other solution providers to adapt and thrive as the market changes. Vertafore’s platform features fast innovation, partnerships with the best technology companies, and customizable solutions to help companies remain independent during a time of industry disruption. As the leader in modern insurance technology with the largest customer base in the industry, Vertafore connects every point of the distribution channel, from agencies and carriers to MGAs, MGUs, and state governments. More than 500,000 insurance professionals trust Vertafore technology every day, utilizing the suite of agency management systems already in the company’s product portfolio including the AMS360® management system, Vertafore Agency Platform, Sagitta management system, and QQCatalyst agency management system. Vertafore has more than 45 years of deep industry expertise. TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with approximately $48 billion of assets under management and offices in San Francisco, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, Shanghai, Singapore and Tokyo. TPG Capital has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, growth investments, joint ventures and restructurings. TPG’s technology investments have included Alltel, Avaya, Crystal Decisions, Fidelity National Information Services, Hotwire, IMS, Intergraph, Lenovo, MEMC, ON Semiconductor, Sabre Holdings, Seagate and SunGard among others.]]>