Private Equity Firm Acquires DAVID Corp. of California

Private equity firm Phoenix Asset Management has acquired DAVID Corp., a provider of risk management and insurance software and services.

DAVID Corp. has been providing software and services to commercial and alternative P&C insurance markets for more than 27 years.

DAVID Corporation president and CEO Alex Aminian said the investment of capital by Phoenix will help with their strategic growth objectives.

“Over the coming months, in addition to rolling out the latest version of our NavRisk software, we will rapidly accelerate our investment in R&D, Marketing and M&A activity to better serve our rapidly expanding client portfolio and market share,” Aminian said in a statement.