Published On: Tue, Aug 11th, 2020

Thoma Bravo to acquire US insurtech Majesco for higher price of $729m

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, which provides cloud software solutions, has been offered a sweetened price of $729 million for its takeover by private equity firm Thoma .

It can be recalled that the US insurtech company agreed to be acquired by the same private equity firm for $594 million or $13.1 per share in a deal signed in July. In the meanwhile, Majesco is said to have received an “unsolicited” bid from an undisclosed third party, which resulted in sweetening its offer to $16 per share.

The acquisition by Thoma Bravo will enable the New Jersey-based insurance technology provider to become a privately held company.

For Majesco, the financial advisor for the deal is Nomura Securities International, while Sheppard, Mullin, Richter & Hampton is serving as the legal advisor. On the other hand, Kirkland & Ellis is the legal advisor for Thoma Bravo.

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