Vertafore Bought for $1.4B

Bothell, WA-based Vertafore, a provider of software and services to the insurance industry, said today it is being acquired by TPG Capital for $1.4 billion. Vertafore was previously owned by private equity firms Hellman & Friedman, based in San Francisco, and JMI Equity, which is based in Baltimore and San Diego. JMI managing general partner Paul Barber, who is based in San Diego, was a Vertafore director. The company, formerly known as AMS Services, was founded in 1985 and moved its headquarters from Connecticut to Washington state in 2005.

Gregory T. Huang is Xconomy's Editor in Chief. E-mail him at gthuang [at] Follow @gthuang

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