Bain Capital in advanced talks to sell Applied Systems


software3_lrgPrivate equity firm Bain Capital is reportedly looking to sell Applied Systems in a deal that could value the insurance software provider at more than $1bn.

Bain is currently in advanced talks with other private equity firms and a deal could be sealed as soon as this week, said Reuters, citing three people familiar with the matter.

The report did not say which firms were in talks to acquire the company from Bain.

Bain bought Applied Systems, which provides software to insurers and brokerages, from Vista Equity Partners in 2006.

Last week Bain pulled out of advanced talks to buy vehicle parts supplier TI Automotive after failing to meet the $2bn asking price.

The firm was willing to pay $1.5bn for the company, Reuters reported.

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