Bain and Vista may sell software firm Vertafore that could fetch $5B
(Bloomberg) --Vista Equity Partners and Bain Capital are in the early stages of weighing a sale of insurance software maker Vertafore Inc., according to people familiar with the matter.
The Denver-based company could be worth up to $5 billion in a sale, said one of the people, who asked to not be identified because the matter isn’t public. The private equity firms are considering starting a sale process for the company in early 2020, the people said.
The firms have been interviewing bankers for the potential sale, one of the people said. No final decision has been made and their plans could change, the people said.
Representatives for Vista and Bain declined to comment. Representatives for Vertafore didn’t respond to requests for comment.
Vertafore’s software is used by 20,000 insurance agencies and 500,000 insurance professionals, according to its website.