TPG Capital-backed Vertafore to acquire Keal Technology
Vertafore, a portfolio company of U.S. private equity firm TPG Capital, has agreed to buy Keal Technology, a Concord, Ontario-based software applications developer focused on the Canadian insurance brokerage industry. No financial terms were released for the deal, which is expected to close by the end of March. Vertafore, an insurance software and services provider, said the acquisition will expand its portfolio of companies into Canada. Keal, which has over 16,000 broker users, will as a result of the deal be supported in its growth under its existing brand. Based in Bothell, Washington, Vertafore was acquired by TPG from Hellman & Friedman and JMI Equity for US$1.4 billion in 2010.
29 February 2016•3 mins read
