PE Firm Phoenix Acquires Software Provider David Corp.

Law360, New York (November 4, 2011, 5:49 PM EDT) -- Middle-market private equity firm Phoenix Asset Management LLC has acquired risk management software provider David Corp., David announced Friday.

Terms of the deal were not disclosed. A David spokeswomen did not immediately return a request for comment.

The PE firm targeted David because of its expertise in the risk management software market and its extensive client base, according to Phoenix partner Christopher Wall.

"David has a proven track record of success in the risk management and insurance software market, and we look forward to helping them...
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