(Image credit: Dollar Photo Club.)
Private Equity firm Thoma Bravo (Chicago) has completed its acquisition of Infogix, Inc. (Naperville, Ill.), a provider of data integrity and advanced analytics solutions to the insurance industry, from H.I.G. Capital, for an undisclosed amount. Other insurance industry technology vendors Thoma Bravo has invested in include iPipeline (Exton, Pa.), the acquisition of which was announced August 2015, and Hyland Software, of which Thoma Bravo acquired a majority stake in 2007.
“Thoma Bravo continues to make strategic investments in that impact the insurance space,” comments Tom Scales, research director, Celent (Boston). “Investments in surrounding technology make so much sense as the underlying core systems in insurers are aging. With their acquisition of iPipeline, they provide capabilities on the front-end, through eApp, and the back-end through policyholder server and policy delivery.
(Related: iPipeline Acquired by PE Firm Thoma Bravo)
“The acquisition of Infogix gives Thoma Bravo a solid foundation in analytics, which is critical as the insurance space becomes even more competitive and sales move more and more online,” Scales adds.
A.J. Rohde, a partner at Thoma Bravo, describes Infogix as the market leader in transaction controls monitoring and predictive analytics for enterprise customers across healthcare, financial services, media and communications, insurance, and other key verticals. “We’ve been extremely impressed by the product vision and customer-centric ethos of Infogix’s CEO and president, Sumit Nijhawan, and the entire leadership team, and look forward to working closely with them to further push innovation and accelerate growth,” he comments.
Enterprise Data Analysis Platform
Infogix is the supplier of the Enterprise Data Analysis Platform, which enables clients analyze data as it moves through complex business environments, with the aim of improving the customer experience, corporate profitability and operational efficiency. The Platform works to improve data quality, ensure effective transaction monitoring, execute balancing and reconciliation procedures, and identify and predict fraud and legitimate customer behaviors.
“We’re excited to partner with Thoma Bravo, especially given its expertise in growing high-quality software companies,” comments Infogix’s Nijhawan. “Our relationship with Thoma Bravo will provide Infogix with the resources and support to both fuel organic growth and pursue complementary acquisitions. In addition, their guidance will help us identify and target investment in new solutions for the vertical markets we serve.”
Best-in-Class Customer Experience
“Several of the Fortune 1,000 companies that Infogix serves have been customers for more than 25 years, an accomplishment that our team has tremendous admiration for,” says Carl Press, a vice president at Thoma Bravo. “We are focused on providing Infogix the resources it needs to maintain its best-in-class customer experience while we concurrently execute on strategic growth initiatives.”
Goodwin Procter LLP served as legal advisor to Thoma Bravo. William Blair & Company, L.L.C. served as exclusive financial advisor to Infogix, and McDermott Will & Emery LLP served as legal advisor to Infogix.