Demonstrates Union Square Advisors’ continued strength in providing unique insights and strategic advice to leading players in the enterprise software market
On August 4, 2016, Guidewire, a provider of software products to property/casualty (P&C) insurers, announced that it has agreed to acquire FirstBest Systems, a provider of underwriting management systems to P&C insurers. With this acquisition, Guidewire will provide its customers greater support for their risk assessment and decision-making processes. FirstBest’s underwriting management system will complement and enhance the submission intake, risk analysis, underwriting process, and collaboration capabilities of policy administration systems. Union Square Advisors acted as exclusive financial advisor to Guidewire in this transaction.
About Guidewire Software, Inc.
Guidewire (NYSE: GWRE) delivers the software that P&C insurers need to adapt and succeed in a time of rapid industry change. The Company combines three elements – core processing, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 200 P&C insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com.
About FirstBest Systems, Inc.
FirstBest Systems is the leading provider of insurance software solutions and services that help P&C insurance companies improve underwriting profitability, scale their business, and achieve high service levels with agents and brokers. The patented and proven FirstBest Suite powers the underwriting operations of leading commercial P&C, specialty, and workers’ compensation insurers, processing more than $23 billion in quotes. FirstBest helps insurers institutionalize risk-assessment knowledge and best practices. With FirstBest solutions, all constituents in the underwriting process can rapidly collaborate to quote, bind, and issue business on a single, data-powered, real-time platform. For more information, please visit www.firstbest.com.
About Union Square Advisors
Union Square Advisors LLC is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution as well as agented private capital financing services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity and venture capital firms across the technology landscape with a primary focus on Software, Software-Enabled Services, IT Infrastructure and Internet/Digital Media/Marketing Technology. Since inception, Union Square Advisors has advised on over 60 transactions, valued in excess of $80 billion. For more information, please visit www.usadvisors.com.