Hellman & Friedman agrees to acquire Applied Systems from Bain Capital

Hellman & Friedman has inked an agreement to buy Applied Systems from Bain Capital for approximately $1.8 billion. JMI Equity will also be investing alongside H&F. Ropes & Gray advised Bain Capital in the sale. According to terms of the deal, Applied Systems' senior management will continue to maintain a "significant ownership position" in the company. The transaction is expected to close in early 2014. Headquartered in University Park, Illinois, Applied Systems is a provider of insurance software.

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