Thoma Bravo Is Selling iPipeline to Roper Technologies

By Noah Long ● August 12, 2019
  • Thoma Bravo recently announced that it entered into a definitive agreement to sell iPipeline to Roper Technologies in a $1.625 billion deal.

Thoma Bravo, LLC — a leading private equity investment firm — recently announced that it entered into a definitive agreement to sell iPipeline to Roper Technologies. iPipeline is a leading provider of cloud-based software solutions for the life insurance and financial services industry. And this deal is valued at $1.625 billion, which is subject to close in the third quarter subject to regulatory approval and customary closing conditions. iPipeline CFO and COO Larry Berran is also being appointed CEO of the company.

“We are very proud of what we have accomplished working in partnership with Tim Wallace, Larry Berran and the iPipeline management team,” said Thoma Bravo managing partner Holden Spaht. “Our investment in iPipeline is another great case study for Thoma Bravo. We partnered with an outstanding management team to acquire a vertical market software leader, improved the business by leveraging Thoma Bravo’s deep operational capabilities and accelerated growth both organically and through M&A resulting in a doubling of the company’s top line and even faster earnings growth.”

This planned exit will culminate a successful four-year partnership between Thoma Bravo and iPipeline, the result of which is a significant increase in the company’s valuation.

Since its acquisition in 2015, Thoma Bravo has worked with iPipeline’s management to drive organic growth in its core markets and transform the company’s product offerings through five highly strategic acquisitions. And now, iPipeline is the market leader in cloud-based software that powers the entire life insurance and annuity process from application to administration.

“We are grateful to Thoma Bravo’s leadership team and the operational expertise they implemented to help invest in and grow the company,” added iPipeline CEO Timothy Wallace. “Through our partnership with Thoma Bravo, we increased the employee headcount at iPipeline by 60%, made significant investment in our product suite and substantially improved the level of service we are able to provide to our customers. I am very proud of the culture we have built at iPipeline, and this transaction is a reflection of the hard work and dedication of all of our employees across the globe.”

iPipeline’s SSG Digital end-to-end platform is able to accelerate and simplify sales, compliance, operations, and support. And the company provides process automation and seamless integration between every participant in our ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers on a global basis. Plus the company’s innovative solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management.

The iPipeline platform is used by approximately 150 carriers, 1,350 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment.

“iPipeline is a special company, and we could not ask for a better home for its next phase of growth than with Roper’s ownership,” explained Thoma Bravo principal Brian Jaffee. “We are thrilled to see Larry transition to the CEO role and know he will continue the company’s strong momentum for many years to come.”

Credit Suisse is serving as exclusive financial advisor to iPipeline and Kirkland & Ellis LLP. And Lauletta Birnbaum LLP are serving as legal advisor to iPipeline and Thoma Bravo.