Simpson Thacher represented Applied Systems and Hellman & Friedman in the deal
Applied Systems, the leading global provider of cloud-based software that powers the business of insurance, secured an investment from CapitalG, Alphabet’s growth equity investment fund. CapitalG’s investment will bring Applied access to Google expertise across artificial intelligence, machine learning, and digital marketing. Other CapitalG investments include Lyft, Airbnb, SurveyMonkey, and Zscaler.
Over the past five years, Applied has more than doubled in size and revenue by significantly growing its product portfolio and customer base throughout the United States, Canada, the United Kingdom and the Republic of Ireland. As the insurance industry’s trusted technology partner for more than 35 years, Applied continues to serve the industry and its expanding global customer base through an innovative product portfolio and industry leading services and support.
The Simpson Thacher team included Richard Capelouto (Picture), Andrew Simon-Rooke and Sherry Shen (M&A); and Katharine Moir (Tax).
Involved fees earner: Richard Capelouto – Simpson Thacher & Bartlett; Andrew Simon-Rooke – Simpson Thacher & Bartlett; Sherry Shen – Simpson Thacher & Bartlett; Katharine Moir – Simpson Thacher & Bartlett;
Law Firms: Simpson Thacher & Bartlett;