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Private Equity Firm to Acquire European Software Firm TIA Technology

Staff Writer | June 17, 2014

TIA Technology, a supplier of standard software systems for the insurance industry in Europe, has been acquired by the Nordic private equity fund EQT Mid Market. EQT sees TIA Technology as a major player in the insurance software market as many insurers will invest in new software solutions to enable their ability to execute faster and more efficiently.  

TIA’s strategy is to expand its European base and continue to develop and deliver its end-to-end standard insurance solution. Partnering with EQT will allow TIA to further accelerate growth and innovation as well as expand its footprint across Europe. Focus will also be on establishing a stronger local presence in key markets such as Germany and the UK.

“We are impressed with the management team and what they have achieved with TIA over the past years and we are captivated by the quality of the software and services,” says Jannik Kruse Petersen, Partner at EQT Partners, investment advisor to EQT Mid Market. “EQT, with its network and industrial approach, is well suited to support TIA in realizing its full potential.”

Around 75 percent of European Property & Casualty insurance companies currently run on legacy systems and there is a clear migration trend towards standardized systems in order to enhance efficiency and competitiveness and comply with increasing customer demands and regulations. TIA Technology will play an important role in this transformation and continue to grow its international customer base.

“We will continue our successful customer-centric strategy; working closely together with our partners to ensure a strong foundation for worldwide growth,” says Liselotte Munk, CEO of TIA. “Our clients can rest assured that we will continue to deliver the most future-proof solution on the market to propel their business forward.”

 

 


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