San Francisco technology-focused private equity firm Thoma Bravo LLC is buying iPipeline for undisclosed terms.

Exton, Pennsylvania-based iPipeline, founded in 1985, provides software-as-a-service (Saas)  for the life insurance sector.

iPipeline’s technology is designed to automate the insurance sales process by reducing time, costs and the rate of errors.

Thoma Bravo managing partner and co-founder Orlando Bravo recently told Mergers and Acquisitions that the cloud computing industry will continue to see growth because these companies make it easier to communicate and also have a more efficient way to use the latest software.

“We expect our relationship with Thoma Bravo will help fuel organic growth and pursue complementary acquisitions that increase our value to the insurance industry as a whole,” says iPipeline CEO Tim Wallace.

Thoma Bravo is buying the target from venture capital firms NewSpring Capital, Technology Crossover and Volition Capital.

Goodwin Procter LLP is representing Thoma Bravo. Credit Suisse, Bank of America Merrill Lynch and William Blair are advising iPpeline, which is being represented by Pepper Hamilton LLP and Lauletta Brinbaum LLC.

Golub Capital and Ares Capital Corp. are providing financing for the transaction.

Thomas Bravo won Mergers and Acquisitions’ M&A Mid-Market award for Deal of the Year with the $930 million purchase of TravelClick, which was completed in May.  That acquisition has spurred other deal activity in the travel space including Expedia buying Travelocity for $280 million and is also purchasing Orbitz for $1.6 billlion.