Deals
Acrisure Buys Tulco’s AI Insurance Business in $400 Million Deal
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Acrisure LLC, an insurance brokerage, agreed to purchase an artificial-intelligence business from Tulco LLC in a transaction valued at $400 million, the buyer’s largest deal ever.
The stock-for-stock purchase makes Tulco a significant minority shareholder in the insurance broker, the companies said Wednesday in a statement. Thomas Tull, the chairman and chief executive officer of Tulco, will become chairman of a new technology group at Acrisure.