Personal fairness investor AnaCap has initiated unique discussions to accumulate Cleva, an insurance coverage software program firm, from Inetum Group.
The monetary phrases of the transaction weren’t disclosed.
Cleva specialises in delivering software program options for the core well being, life and non-life insurance coverage sectors.
Primarily based in Paris, the corporate operates principally in France, Portugal and Spain, catering to greater than 60 insurance coverage suppliers and brokers.
Cleva maintains a workforce of round 550 people unfold throughout places of work in Paris, Lyon, Porto and Lisbon.
At current, Rodolphe Peim serves as CEO of Cleva, supported by a administration workforce in France and Portugal.
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AnaCap said that Cleva is strategically positioned to capitalise on the continuing outsourcing tendencies within the insurance coverage sector, the place there’s fast adoption of third-party software program options.
With help from AnaCap’s intensive experience in insurance coverage and software program, Cleva goals to expedite its development initiatives and broaden its presence, notably within the Iberian area.
AnaCap managing companion Nassim Cherchali stated: “We imagine that Cleva is effectively positioned to develop its providing as a number one insurance coverage software program supplier throughout Europe but additionally to increase its enterprise attain into new geographies.
“We had been notably impressed by the efforts made by the administration workforce over the past three years in growing a contemporary tech stack throughout each life and non-life options and we’re very excited to start the subsequent part of development with Cleva.”
Cleva CEO Rodolphe Peim stated: “Over the previous years, Cleva has been recognised for the standard of our options and its skill to hold out large-scale, transformative tasks for our shoppers. This success represents an amazing supply of delight for all Cleva staff.
“From our first discussions, AnaCap confirmed a complete dedication to pursue and help our development technique and thus demonstrated a real alignment with our fundamentals. I’m delighted to companion with AnaCap, and we sit up for this new chapter collectively.”
The completion of the transaction is contingent upon the data and session of the Inetum Group’s worker consultant our bodies, in addition to commonplace closing circumstances akin to antitrust approval.
It’s anticipated to finalise within the second half of 2024.
