Private equity investment firm Thoma Bravo acquired iPipeline, an Exton, Penn.-based technology provider of cloud-based software solutions to the life insurance industry.
The financial details of the deal were not disclosed. It is known that Thoma Bravo will be acquiring its interest in iPipeline from three venture capital firms: NewSpring Capital, Technology Crossover Ventures and Volition Capital and that Golub Capital and Ares Capital Corporation provided financing for the transaction.
Founded in 1995 and led by Tim Wallace, chief executive officer, iPipeline provides cloud-based software solutions for the life insurance industry to simplify insurance sales, compliance, operations and support and enable automated processing for pre-sales, point-of-sale execution of applications, post-sale support, reporting, consumer delivery and agency management.
The company employs 400 employees in Exton, Cheltenham (UK), Fort Lauderdale, Horsholm (DK), Huntersville, Philadelphia, Salt Lake City, Tokyo, and Vancouver.
FinSMEs
05/08/2015