Bain, Vista Finalize Acquisition of Vertafore
Staff Writer | July 01, 2016
Vertafore announces the completion of its previously reported acquisition by funds affiliated with Bain Capital Private Equity and Vista Equity Partners. The transaction was announced in May.
With over 45 years of industry expertise, more than 500,000 insurance professionals use Vertafore technology across each point of the insurance value chain. Leading products in the company’s portfolio include the Vertafore Agency Platform, AMS360 and Sagitta management systems, ImageRight, and Sircon agency and carrier solutions.
“Today is a significant day for our employees and our customers, and this partnership will help us continue to enhance our product portfolio and invest in our technology solutions to serve our customers who are managing increasing complexity inherent in the industry,” says Jeff Hawn, chairman and CEO at Vertafore. “Our customers know they can count on Vertafore to deliver comprehensive software and data aggregation, as well as useful tools across the value chain that simplify the underwriting process.”
“We look forward to helping Vertafore build upon the strong momentum and continue to execute on growth opportunities and maximize the potential of the business,” says Ian Loring, a managing director at Bain Capital Private Equity. “Customers and partners can rely on Vertafore for innovative, best-in class solutions to increase agent and carrier efficiency.”
"We are eager to work with the team at Vertafore to continue redefining the insurance industry through their leadership in digital technology. In a complex and evolving market, transforming the insurance landscape will require data-driven and customer-focused disruption to keep pace with demand,” says Robert Smith, founder, chairman and CEO of Vista.
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