Hellman & Friedman to Acquire Applied Systems

November 27, 2013

Applied Systems, Inc., a provider of software that powers the business of insurance, announced that it has signed a definitive agreement to be acquired by investment funds advised by Hellman & Friedman LLC.

The company is being acquired from the global private investment firm Bain Capital in a transaction valued at approximately $1.8 billion. JMI Equity, a growth-oriented private equity firm that focuses on building market-leading software and technology-enabled services businesses, 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.

Applied Systems supports an extensive customer base of over 12,000 agencies and brokerages and 350 insurers across the United States, Canada and the United Kingdom.

Hellman & Friedman LLC is a private equity investment firm with offices in San Francisco, New York and London and is currently investing its seventh fund, which has over $8.9 billion of committed capital. H&F has extensive experience in the software and insurance industries through current and previous ownership of large scale agencies, insurance carriers and software providers.

The transaction is subject to customary conditions to closing and is expected to be completed in early 2014.

Sources: Applied Systems, Hellman & Friedman LLC, Bain Capital, JMI Equity

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