UK based claim processing services company, Innovation, was acquired by the buyout group Carlyle for $772m. Innovation offers its' claims processing software for the motor and property insurance markets as a standalone product.
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Carlyle snags insurance SaaS buyout
In a statement, Non-Executive Chairman at Innovation David Thorpe said the merger will fuel product development and, of course, innovation within the company. “Carlyle brings a commitment and vision to the ongoing investment requirements of the business, providing innovation with enhanced financial and operational flexibility as the group seeks to execute its strategy in the longer term,” he said
