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.