Verisk Analytics’ $193.5 Million Acquisition Of FAST

Lowenstein Sandler represented NexPhase Capital, LP in its agreement to sell Flexible Architecture & Simplified Technology, LLC (FAST).

Verisk Analytics, Inc. (Verisk) executed the acquisition of Flexible Architecture & Simplified Technology, LLC (FAST), a leading software company for the life insurance and annuity industry. The purchase price is $193.5 million. The transaction is subject to the completion of customary closing conditions.

Founded in 2010, FAST is a leader among technology companies, supporting the insurance industry’s modernization efforts. It provides core software that allows life insurers to efficiently enhance or replace their legacy policy administration, new business, and distribution management systems.

Since partnering with FAST in 2015, the NexPhase team has worked closely with the co-founders to further establish its position in the insurance software industry. Through investments in key personnel and infrastructure, NexPhase has helped FAST grow its impressive platform, bolster its leadership team, improve its operational efficiency, and transition to a recurring revenue model.

NexPhase Capital, LP is an operationally focused private equity firm. Nexphase Capital targets companies operating in the healthcare, industrial services, software, and consumer sectors.

Headquartered in Jersey City, N.J., Verisk Analytics, Inc. (VRSK:US) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services.

The Lowenstein Sandler deal team included Christopher C. Henry (Picture), Zarema A Jaramillo, Marc S Kurzweil, Jack Sidorov, Michael Walutes,Julie Levinson Werner, Bianka V. Barraza, Bettina C. Elstroth, Katie R. Glynn, Kimber Hargrove, Amanda C. Lutick, Stefanie Manna, and Megan Monson.

Involved fees earner: Bianka Barraza – Lowenstein Sandler LLP; Bettina Elstroth – Lowenstein Sandler LLP; Katie Glynn – Lowenstein Sandler LLP; Kimber Hargrove – Lowenstein Sandler LLP; Christopher Henry – Lowenstein Sandler LLP; Zarema Jaramillo – Lowenstein Sandler LLP; Marc Kurzweil – Lowenstein Sandler LLP; Julie Levinson Werner – Lowenstein Sandler LLP; Amanda Lutick – Lowenstein Sandler LLP; Stefanie Manna – Lowenstein Sandler LLP; Megan Monson – Lowenstein Sandler LLP; Jack Sidorov – Lowenstein Sandler LLP; Michael Walutes – Lowenstein Sandler LLP;

Law Firms: Lowenstein Sandler LLP;

Clients: NexPhase Capital;

Author: Ambrogio Visconti