Private equity firm buys iPipeline

clock

Private equity investment firm Thoma Bravo has announced its acquisition of iPipeline for an undisclosed sum.

Thoma Bravo will be acquiring its interest in iPipeline from three venture capital firms: NewSpring Capital, Technology Crossover Ventures and Volition Capital.

Holden Spaht, a managing partner at Thoma Bravo said: "[iPipeline] is a market leader with a mission critical product offering and has a strong secular growth opportunity from the continued migration of life insurance applications from print to digital."

Founded in 1995, iPipeline is based in Exton, Penn, with the UK office in Cheltenham, and is a technology provider of solutions that drive straight-through processing for the insurance and financial services industry. It has more than 400 employees worldwide.

Tim Wallace, chief executive officer of iPipeline said: "We expect our relationship with Thoma Bravo to help fuel organic growth and pursue complementary acquisitions that increase our value to the insurance industry as a whole.

"Thoma Bravo's experience with high-growth companies will not only help us achieve these goals, but also aid us in our mission to continuously improve customer satisfaction levels."

A.J. Rohde, a principal at Thoma Bravo added: "Both carriers and distributors of insurance and annuity products alike are seeking to streamline their customer onboarding workflows, and make the process of purchasing these products easier and more intuitive for the end consumer. iPipeline is at the forefront of this movement, and we're excited to be able to invest in a business with such an excellent market opportunity."

Goodwin Procter LLP served as legal advisor to Thoma Bravo and Golub Capital and Ares Capital Corporation provided financing for the transaction. Credit Suisse served as financial advisor and Pepper Hamilton LLP and Lauletta Birnbaum LLC as legal advisors to iPipeline.

Further reading 

iPipeline launches open market protection quote tool

More on Individual Protection

CMA clears Aviva/AIG Life acquisition

CMA clears Aviva/AIG Life acquisition

Full decision to be published shortly

Cameron Roberts
clock 28 March 2024 • 1 min read
Legal & General pays out £921m in individual protection claims

Legal & General pays out £921m in individual protection claims

“High levels of deliberate misrepresentation”

Jaskeet Briah
clock 28 March 2024 • 2 min read
22% of adults without children delay taking out protection: L&G

22% of adults without children delay taking out protection: L&G

11% were putting off financial decisions until marriage

Jaskeet Briah
clock 27 March 2024 • 2 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read