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Hellman & Friedman to buy Applied Systems for $1.8 billion

26
Nov
2013

(Reuters) – Private equity firm Hellman & Friedman has struck a deal to buy insurance software provider Applied Systems from Bain Capital for $1.8 billion, HF said on Tuesday. JMI Equity, a private equity firm focused on building software and technology-enabled services businesses, will be investing alongside HF, it said, without giving details. Under the terms of the agreement, members of Applied Systems’ senior management will maintain a significant ownership position in the company, HF said. Applied Systems, founded in 1983, sells its software to insurance agencies and brokerages.

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