BDA and William Blair advise Coforge on sale of AdvantageGo to Sapiens

BDA Partners and William Blair are pleased to announce that their client, Coforge, has sold its wholly owned subsidiary AdvantageGo, a leading commercial insurance software provider specializing in underwriting workbench solutions for the London & global commercial markets, to Sapiens International Corp (NASDAQ and TASE: SPNS), for a base consideration of GBP43m.

The divestment follows a strategic review by Coforge aimed at sharpening the company’s focus on its core insurance services business, which continues to be a key vertical for growth, and will eliminate potential channel conflicts with key P&C partners.

AdvantageGo is a commercial and specialty insurance software provider with a strong presence in the Lloyd’s Syndicate Market. It has operated for more than 30 years, serving major global insurers. 

The transaction aligns with Sapiens’ strategy to penetrate the London Specialty Market, expand its P&C global offering, and strengthen support for the reinsurance market.

AdvantageGo will also strengthen Sapiens’ value proposition in the North American P&C market, enhancing its capabilities for insurers operating in complex specialty and commercial lines.

Anup Kumar, EVP & Global M&A Head, Coforge said, ”Insurance Services will continue to be a growth vertical for Coforge with deep trusted relationships with both P&C and Life Insurers and 6,000 insurance specialists. The divestment of AdvantageGo is part of restructuring to streamline our offerings, resolve channel conflicts and focus exclusively on Insurance Services, as opposed to the Product business. Sapiens, a global leader in Insurance SaaS, will ensure clients adopting the AdvantageGo suite continue to be served well. The team has an exciting career opportunity at Sapiens. We appreciate our partnership with BDA and William Blair, enabling this sale to a leading Insurance Product company.”

Manoj Balwani, Head of Technology, US & India, BDA Partners said: “We’re grateful to the Coforge team for their continued trust in us as their advisor, and we’re proud to have delivered another successful outcome through the sale of AdvantageGo. This transaction underscores our expertise in supporting large tech services companies with the carve-out of non-core assets. In partnership with William Blair, we continue to demonstrate our ability to deliver strategic outcomes for high-quality, specialized businesses.”

Bhavan Suri, Managing Director at William Blair said: “William Blair and BDA’s deep expertise in the Insurtech space was instrumental in delivering a compelling outcome. Our bespoke deal process, combined with a strong understanding of the market, and AdvantageGo’s differentiated tech offering, resulted in an outstanding outcome. Alongside BDA, we’re excited to see AdvantageGo’s next stage of growth in the coming years.”