Lowenstein Steers $193.5M Insurance Software Co. Sale

By Benjamin Horney (December 4, 2019, 4:48 PM EST) -- Private equity firm NexPhase Capital LP, working with Lowenstein Sandler LLP, has agreed to sell life insurance and annuity software maker Flexible Architecture & Simplified Technology LLC to Verisk Analytics Inc. for $193.5 million, the companies said Wednesday.

The deal sees data analytics firm Verisk scooping up the company, which is called FAST and is headquartered in Iselin, New Jersey. Formed in 2010, FAST provides a suite of software-as-a-service products that are meant to help insurers modernize their administrative tasks.

"The acquisition of FAST will extend our offerings to the life insurance market as we build a comprehensive suite of innovative...

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