Bain, Vista Said to Be Weighing Sale of Software Firm Vertafore. Could It Bring $5 Billion?
Vista Equity Partners and Bain Capital are in the early stages of weighing a sale of insurance software maker Vertafore Inc., according to people familiar with the matter.
The Denver-based company could be worth up to $5 billion in a sale, said one of the people, who asked to not be identified because the matter isn’t public. The private equity firms are considering starting a sale process for the company in early 2020, the people said.
The firms have been interviewing bankers for the potential sale, one of the people said. No final decision has been made and their plans could change, the people said.
Representatives for Vista and Bain declined to comment. Representatives for Vertafore didn’t respond to requests for comment.
Vertafore’s software is used by 20,000 insurance agencies and 500,000 insurance professionals, according to its website.
Vista and Bain acquired the Denver-based company in 2016, according to a statement at the time. In May, it announced the acquisition of VUE Software, an insurance distribution management platform.
Related:
- Vertafore Acquires Analytics Firm RiskMatch
- Bain Capital, Vista Equity Buy Agency Technology Firm Vertafore from TPG
- My Reflections on NetVU’s Accelerate Conference
- How the Hot Water That Fueled Hurricane Beryl Foretells a Scary Storm Season
- NY Plane Crash Kills 5 Members of Georgia Family, Including Former Insurance Analyst
- Life, Liberty, and the Pursuit of a Claims-Free Fourth of July
- Jury Awards $68.5M to Family of Worker Who Fell to Death at Philly Construction Site