Applied Systems Inc., an insurance software provider has signed a definitive agreement to be acquired by investment funds advised by Hellman & Friedman LLC and JMI Equity, a private equity firm. The transaction is valued at $1.8 billion. Applied Systems is being sold by Bain Capital, a private investment firm.
"We believe Applied Systems is a uniquely positioned company in the global insurance software market," said David Tunnell, managing director of Hellman & Friedman. "It combines the largest user base in the industry with Applied Epic, the fastest growing new agency management system, to be the market leader in insurance technology for deployments both on premise and in the cloud."
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