TA Associates, a global growth private equity firm, has made a strategic growth investment in Adcubum, a Swiss health and property & casualty insurance software provider, and Tech11 GmbH, a growing insurance software provider serving the P&C market across Germany and Europe.
The deal is intended to create a leading software provider in the health and P&C markets in Europe. Adcubum offers an array of support insurance processes including policy administration, quotation, pricing, claims management and more, through its software platform Syrius.
Tech11 provides a holistic P&C insurance platform to help insurance firms meet the complexities of digitalization in the insurance sector.
“Adcubum is widely considered the leader of its kind in the Swiss health insurance market and continues to demonstrate growth in P&C, a segment tech11 has built great momentum serving in Europe with its innovative platform,” said Stefan Dandl, a principal at TA. “Given their complementary expertise and resources, Adcubum and tech11 offer a compelling opportunity for innovation and growth.”
Alvarez and Marsal is serving as financial and tax advisor, and Bär & Karrer and Latham & Watkins are providing legal counsel to TA.