Bothell software firm sold for $1.4 billion

BOTHELL — Software company Vertafore will be acquired by a private investment firm with international reach, according to an announcement made Thursday.

Vertafore, which produces insurance-industry software, was bought by TPG Capital for $1.4 billion.

The company was sold by Hellman &Friedman and co-investor JMI Equity. Additional details about the deal were not disclosed.

If regulators approve the sale, it should be finalized in the third quarter of this year.

“TPG is a premier private investment firm that has an impressive track record in the technology field,” Vertafore CEO Euan Menzies said. “The TPG team understands our business and shares our vision for the future of the company.”

TPG is a global equity firm reporting $48 billion in assets. The firm has management offices in major cities around the world, including San Francisco, Beijing, Hong Kong and London.

Read Amy Rolph’s small-business blog at www.heraldnet.com/TheStorefront. Contact her at 425-339-3029 or arolph@heraldnet.com.

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