Insurance software provider Applied Systems has signed a definitive agreement to be acquired by Hellman & Friedman (H&F). The company is being acquired from the global private investment firm Bain Capital in a transaction valued at approximately $1.8 billion.
JMI Equity will be investing alongside H&F and, under the terms of the agreement, members of Applied Systems’ senior management will continue to maintain a significant ownership position in the company.
The transaction is subject to customary conditions to closing and is expected to be completed in early 2014.
[Image courtesy: Applied Systems]