Thoma Bravo-owned iPipeline buys insurtech provider Bluesun

IPipeline has acquired Bluesun, a Toronto-based maker of software products to automate business processes for MGAs, national accounts, mutual fund dealers, banks and insurers. No financial terms were disclosed. Founded in 2001 by CEO Simon Tomlinson and Chairman Stewart Wigg, Bluesun has a client base that includes nearly 70 percent of Canadian life insurers and agencies. IPipeline, an Exton, Pennsylvania-based provider of cloud software solutions to the life insurance industry, said the deal extends its reach into the Canadian market. U.S. private equity firm Thoma Bravo acquired iPipeline in 2015 from the company's venture capital investors.

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