Kirkland, Davis Polk Steer $5.35B Insurance Software Co. Deal
Law360 (August 13, 2020, 11:03 AM EDT) -- Private equity firms Vista Equity Partners and Bain Capital, counseled by Kirkland, will sell insurance software provider Vertafore Inc. to Davis Polk-advised Roper Technologies Inc. for roughly $5.35 billion, the companies said Thursday.
The all-cash agreement adds to Sarasota, Florida-based Roper's portfolio a Denver, Colorado-based business in Vertafore that provides cloud-based insurance services, including products that assist with agency management, compliance, workflow and data solutions, according to a statement. The company's software helps clients automate the processes involved in property and casualty insurance, and Vertafore boasts more than 20,000 agencies and 1,000 insurance carriers as clients.
"Vertafore is a fantastic business characterized by...
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