(Reuters) – Private equity firm Hellman & Friedman has struck a deal to buy insurance software provider Applied Systems from Bain Capital for $1.8 billion, H&F said on Tuesday.
JMI Equity, a private equity firm focused on building software and technology-enabled services businesses, will be investing alongside H&F, it said, without giving details.
The transaction is expected to be completed in early 2014.
Under the terms of the agreement, members of Applied Systems' senior management will maintain a significant ownership position in the company, H&F said.
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