TPG-backed Vertafore ties up Keal Technology acquisition

U.S. insurance technology company Vertafore has closed its acquisition of Keal Technology, a provider of broker and commercial management systems in Canada. No financial terms were released for the deal, which was announced last month. Bothell, Wash.-based Vertafore has been a portfolio company of U.S. private equity firm TPG Capital since 2010.

PRESS RELEASE

Vertafore Closes Keal Technology Acquisition

BOTHELL, Wash., March 31, 2016 /PRNewswire/ — Vertafore, the leader in modern insurance technology, today announced the closing of the acquisition of Keal Technology, a leading provider of broker and commercial management systems in Canada. The deal, which was announced earlier in the month, extends Vertafore’s customer base into Canada, further creating an international footprint for the largest software provider in the industry.

“We are thrilled to be a part of the Vertafore family,” said Pat Durepos, President of Keal Technology. “We are looking forward to a tremendous partnership that will benefit our customers all across Canada.”

About Vertafore
Vertafore offers the broadest and most adaptable technology solutions to better prepare the insurance industry for digital disruption. The Vertafore product line is built on a platform, empowering customers and other solution providers to adapt and thrive as the market changes. Vertafore’s platform features fast innovation, partnerships with the best technology companies, and customizable solutions to help companies remain independent during a time of industry disruption. As the leader in modern insurance technology with the largest customer base in the industry, Vertafore connects every point of the distribution channel, from agencies and carriers to MGAs, MGUs, and state governments. For more information about Vertafore, visit www.vertafore.com, read the company’s blog, and follow the company on Twitter, LinkedIn, and Facebook.

Photo courtesy of Vertafore