FIH Partners advises EQT, one of the leading private equity groups in Europe, on the divestment of Tia Technology, a leading property & casualty (“P&C”) insurance software provider in Europe and South Africa.
Tia Technology was founded in 1997 and is today serving ~70 customers across +20 countries with a market leading position across the Nordics, Poland, Baltics, and South Africa. The company offers flexible and comprehensive suites of core insurance applications as well as several innovative extension modules. Additionally, Tia provides full scope of expert implementation, application management and hosting services, enabling insurers to execute their digital and business strategies. The company has ~200 employees and is headquartered in Copenhagen, Denmark with offices in Lithuania, Poland, and South Africa.
During the EQT ownership, Tia has leveraged its leading market position in core markets, expanded internationally, continuously developed its standard software solutions, established a cloud-based offering and further strengthened the organisation.
Sapiens is a leading global provider of digital software platforms, solutions and services for the property & casualty, life, pension & annuity, reinsurance, financial & compliance, workers’ compensation and financial markets with more than 500 customers and 3,400 employees across 25 countries.
With the acquisition, Sapiens will leverage the insurance domain knowledge of Tia and further expand its P&C and L&P offering in the different regions. The acquisition is in line with Sapiens’ strategy of expanding its European market footprint.