Applied Systems Acquisition of Tarmika

On 8/16/22, Applied Systems, Inc. (“Applied”) announced its acquisition of Tarmika, Inc. (“Tarmika”)

• Terms of the transaction were not disclosed

Tarmika is a single-entry solution designed to streamline the commercial lines quoting process for agents

• Founded in 2018 to build technology that enables carriers and agents to expand distribution channels, gain new business, and provide an enhanced customer experience
• Recently launched a growing embedded insurance product focused on small commercial insurance
• Currently works with over 1,000 leading independent agencies and over 30 insurance carriers

Applied is a leading global provider of cloud-based software that powers the business of insurance

• One of the world’s largest providers of agency and brokerage management systems
• Serves customers throughout the United States, Canada, Ireland, and the United Kingdom
• Hellman & Friedman has been Applied’s majority shareholder since 2014
  • Alongside minority shareholders Stone Point Capital, JMI Equity, and CapitalG

Transaction will expand Applied’s commercial quoting and Ivans’ distribution connectivity solutions

• Strategic acquisition to expand portfolio of commercial lines quoting and distribution technologies
  • Driving greater connectivity between independent agencies, carriers, and insureds
• Will create a more valuable and digital distribution experience at each stage of the insurance lifecycle

TCMA acted as exclusive financial advisor to Tarmika; key roles and responsibilities included:

• Led a targeted sale process focused on most likely strategic acquirors
• Created marketing materials and financial packages shared with potential buyers
• Managed an organized due diligence process
• Offered insights around and assisted in the negotiation of transaction terms and conditions
• Provided objective advice and acted as a confidant to Tarmika throughout the process