'Potential sale' of Vertafore is in talks
Investment firms Vista Equity Partners and Bain Capital are reportedly considering a sale of the insurance software company.
Three years after acquiring Vertafore, Vista Equity Partners and Bain Capital are in the early stages of considering a sale of the InsurTech, Bloomberg reported.
Denver-based Vertafore, which offers insurance software solutions for independent agencies, brokers, MGAs and insurers, could be worth up to $5 billion, an unidentified source familiar with the matter told Bloomberg, as the potential sale is not yet public.
In 2016, Vista and Bain acquired Vertafore from private equity firm TPG Capital LP for an unconfirmed amount of $2.7 billion, Reuters reported at the time.
According to Bloomberg, the investment firms are interviewing bankers, with the possibility of starting the sale process in early 2020, although no final decision has been reported.
Representatives from Vertafore have not responded to PC 360’s request for comment.
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