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Zywave to Acquire Software Firm Insurance Technologies
Wednesday 25 November 2020

US-based insurance tech company Zywave, Inc. has agreed to acquire Texas-based Insurance Technologies Corp, an insurance-focussed marketing, rating and agency management software solutions provider, from Accel-KKR, the company said.

Financial terms were not disclosed.

The acquisition of ITC solidifies Zywave's position as the provider of solutions for carriers and independent insurance agencies in the P and C and benefits markets helping to facilitate seamless insurance interactions.

Zywave plans to align and integrate ITC's products within its Sales Cloud offering, which includes multiple front-of-office software solutions that streamline mission-critical workflows that are core to growing insurance businesses' operations.

Raymond James served as financial advisor to ITC.

Zywave, backed by Clearlake Capital Group L.P., is an SaaS solutions company that fuels business growth for its partners with cloud-based sales management, client delivery, content and analytics solutions.

Insurance Technologies Corp. provides websites, agency marketing, comparative rating, and management software and services to the insurance industry, including independent agents and insurance carriers.

Clearlake Capital Group, L.P. is an investment firm targeting industrials, technology and consumer sectors.
Date Published: 25/11/2020