{
  "id": 9533730,
  "title": "Hellman & Friedman weighs $10bn sale of Applied Systems",
  "url": "https://urgent.news/2026/09/24/hellman-friedman-weighs-10bn-sale-of-applied-systems",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T09:34:13.000Z",
  "source": {
    "name": "Private Equity Wire",
    "slug": "private-equity-wire",
    "url": "https://www.privateequitywire.co.uk/hellman-friedman-weighs-10bn-sale-of-applied-systems/"
  },
  "original_language": "en",
  "account": "Hellman & Friedman is evaluating the possibility of selling insurance software company Applied Systems in a deal potentially valued at up to $10 billion, according to a Reuters report citing anonymous sources. The private equity firm has enlisted the assistance of JPMorgan and Goldman Sachs to advise on the potential sale, which has piqued the interest of potential buyers. Discussions regarding the matter remain confidential, prompting the involved parties to request anonymity. Applied Systems, based in Chicago, specializes in developing software utilized by insurance agencies and brokerages to manage customer relationships, policy administration, and other operational tasks. Major insurance brokerages such as HUB International, Insurance Office of America, and The Baldwin Group are among its clients. The company reported annual earnings before interest, taxes, depreciation, and amortization exceeding $550 million. Hellman & Friedman acquired Applied Systems from Bain Capital in early 2014 for approximately $1.8 billion. Should a deal be reached at the estimated valuation, it would rank among the year's largest software acquisitions and offer insight into investor appetite for mature software enterprises. This potential transaction unfolds amid a resurgence in software mergers and acquisitions, following ServiceNow's $7.7 billion purchase of cybersecurity firm Armis and Hg's $6.4 billion acquisition of financial software provider OneStream.",
  "summary": "Hellman & Friedman is considering a sale of insurance software provider Applied Systems in a transaction that could value the business at as much as $10bn, according to a report by Reuters citing unnamed people familiar with the matter.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}