Vertafore Announces Agreement to be Acquired by TPG Capital

Vertafore, a provider of software and services to the insurance industry, announced that an agreement has been reached for the company to be acquired by investment funds managed by TPG Capital.

TPG will purchase the company from Hellman & Friedman and its co-investor JMI Equity for a total consideration of $1.4 billion. Additional terms of the transaction were not disclosed. The acquisition is expected to close in the third quarter, subject to customary regulatory approvals.