Private equity firm Thomas H Lee Partners (THL) has agreed to buy insurance software house Sword Insurance for an undisclosed sum.
The transaction is expected to close next month.
“THL will support us in realising our vision to support a greater portion of our customers’ complex technology needs as we strive to become a top-five global technology vendor," said Steve Hauck, co-chief executive of Sword Insurance, in a statement.
THL managing director Charles Brizius added: “We believe that there is an enormous market opportunity available through continued investment in customer service and expanded product solutions to meet insurance carriers’ evolving technology needs.”
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