EQT Holdings AB: EQT Mid Market to acquire TIA Technology A/S

  EQT Holdings AB: EQT Mid Market to acquire TIA Technology A/S

  *EQT Mid Market to acquire TIA Technology A/S, the leading supplier of
    standard software systems for the insurance industry in Europe
  *Strategy is to support TIA Technology’s continued growth by investing in
    people and development of an even stronger core system and extended
    solutions offering
  *Vagn Sørensen (former Chairman of Codan/Trygg-Hansa and KMD and Chairman
    of Automic) and Simon Lee (former Group Chief Executive of RSA Insurance)
    will join the Board of Directors

Business Wire

STOCKHOLM -- June 17, 2014

The EQT Mid Market Fund (“EQT Mid Market”) has agreed to acquire TIA
Technology A/S (“TIA” or “the Company”) from DKA Capital, a Danish private
equity fund, and the founders. The management team of TIA will co-invest and
partner with EQT Mid Market to continue the growth and development of the
Company.

TIA offers the industry's most flexible and comprehensive integrated suite of
core insurance applications for Property & Casualty (“P&C”) and composite
insurers. The Company has more than 60 customers and 100,000 daily users in 40
countries, and offers a proven solution which helps insurers across the globe
to get closer to their customers through operational excellence, superior
sales and service and product leadership. The TIA Solution is well-tested and
internationally scalable with zero failed implementation projects.

More than 75% of the European P&C insurance companies currently run on legacy
systems and there is a continued migration trend towards standardized systems
in order to enhance efficiency, competitiveness and to comply with increasing
customer demands and regulations. TIA will play an important role in this
transformation and continue to grow its international footprint.

“With EQT Mid Market as a new owner, we will continue our successful delivery
model and ambitious product strategy while ramping up on execution to become
an even more prominent player in the insurance software sector in EMEA,” says
Liselotte Munk, CEO of TIA. Liselotte Munk continues: “Our clients can rest
assured that we will continue to deliver the most future-proof solution on the
market today and tomorrow to propel their business forward.”

“We believe that the insurance industry has an increasing need of high quality
core system solutions to support and optimize the value proposition towards
customers. TIA is well-reputed in the industry for having developed a software
solution that is among the very best. We look forward to supporting the
Company and working together with management to further develop TIA,” says
Vagn Sørensen, Industrial Advisor to EQT Mid Market.

“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. EQT, with its network and industrial approach, is well suited to
support TIA in realizing its full potential,” says Jannik Kruse Petersen,
Partner at EQT Partners, Investment Advisor to EQT Mid Market.

The parties have agreed not to disclose the transaction value. The transaction
is expected to be completed on June 30, 2014.

About EQT

EQT is the leading private equity group in Northern Europe, with portfolio
companies in Northern and Eastern Europe, Asia and the US with total sales of
more than EUR 25 billion and over 500,000 employees. EQT works with portfolio
companies to achieve sustainable growth, operational excellence and market
leadership.

More information can be found on www.eqt.se

About TIA Technology A/S

TIA Technology offers the industry's most flexible and comprehensive
integrated suite of core insurance applications for property/casualty and
composite insurers. A proven solution with more than 60 customers and 100,000
daily users in 40 countries, TIA helps insurers across the globe to get closer
to customers through operational excellence, superior sales and service and
exceptional product leadership.

For further information please visit www.tiatechnology.com

This information was brought to you by Cision http://news.cision.com

Contact:

Jannik Kruse Petersen
Partner at EQT Partners
Investment Advisor to EQT Mid Market
+45 33 18 12 49
or
Johan Hähnel
EQT Mid Market Spokesperson
+46 706 05 63 34
 
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