Vista Equity Partners and James P. Kellner have acquired , the insurance software company born 20 years ago in suburban Chicago as a one-product, home-based business that grew to become a leading provider of automation solutions in the property/casualty insurance industry.
Applied founder Robert Eustace retained the company’s carrier division as a separate entity now known as , whose centerpiece product is the Diamond System. The company is headed by President and CEO Tony Villa, former Applied Systems executive vice president of product management and marketing.
Vista is a San Francisco-based private equity firm that invests in private and public technology-enabled companies, focusing on successful organizations committed to maintaining industry leadership. Kellner is a 19-year veteran of Applied Systems, starting as director of new product development, later serving as director of the large agent and broker division, then becoming company president. With the new partnership, Kellner continues in his role as Applied Systems CEO and chairman of the board.
Applied Systems is among the largest insurance software companies in North America. Nearly 120,000 users comprising 10,000 agencies conduct business using Applied Systems agency management systems and related products. Nearly 300 of the largest brokers and other financial institutions with insurance operations use Applied Systems products to automate their affiliated insurance agencies.
Topics Mergers & Acquisitions Agencies
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