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Vertafore bought out by TPG for $1.4 billion

The Columbian
Published: June 11, 2010, 12:00am

BOTHELL, Wash. (AP) — Vertafore Inc., a privately held company that provides software for the insurance industry, is being acquired for $1.4 billion by the investment firm TPG Capital.

TPG is buying the Bothell, Wash., company from private equity firm Hellman & Friedman and co-investor JMI Equity.

Vertafore, which announced the deal Thursday, did not disclose specific financial terms.

John Marren, a partner at TPG, says Vertafore is “a world-class company that has developed essential products and services for the growing insurance industry.”

Vertafore said it expects the deal to close in the third quarter.

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