M&A Deal Summary

Applied Systems Acquires Planck

On July 23, 2024, Applied Systems acquired software company Planck from Eight Roads

Acquisition Highlights
  • This is Applied Systems’ 5th transaction in the Software sector.
  • This is Applied Systems’ 9th transaction in the United States.
  • This is Applied Systems’ 1st transaction in New York.

M&A Deal Summary
Date 2024-07-23
Target Planck
Sector Software
Buyer(s) Applied Systems
Sellers(s) Eight Roads
Deal Type Add-on Acquisition

Target

Planck

New York, New York, United States
Planck is a commercial insurance data platform, built to enable insurers to instantly and accurately underwrite any business. Planck's technology platform aggregates and mines massive datasets, using the latest advances in artificial intelligence to automatically generate and deliver key insights customized to the commercial underwriting process. Planck was founded in 2016 and is based in New York City.

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Buyer(S) 1

Buyer

Applied Systems

University Park, Illinois, United States
Category Company
Founded 1983
Sector Internet Software and Services
DESCRIPTION

Applied Systems is a provider of cloud-based software that powers the business of insurance. The Company develops software for independent insurance agents, brokers, managing general agents, and insurance companies, as well as banks and other financial institutions with insurance operations. Applied Systems was founded in 1983 and is based in University Park, Illinois.

DEAL STATS #
Overall 13 of 13
Sector (Software) 5 of 5
Type (Add-on Acquisition) 12 of 12
State (New York) 1 of 1
Country (United States) 9 of 9
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-16 Tarmika

Woburn, Massachusetts, United States

Tarmika is a single-entry efficiency solution designed to streamline the commercial lines quoting process for independent agents. Tarmika was founded in 2018 and is based in Woburn, Massachusetts.

Buy -

Seller(S) 1

SELLER

Eight Roads

Investor

Category Private Equity Firm
Founded 1969
Size Small
Type Sector Focused
DESCRIPTION

Eight Roads is a private investment firm focused on a variety of investment opportunities across the US, Europe, and Asia. The Firm is divided into several investment strategies including venture, principal investing, and real estate. Within the principal investments group, Eight Roads backs established growth businesses with long-term capital. Eight Roads does not have any sector preferences, but has experience in fintech, business services, and healthcare. Eight Roads is based in London.

DEAL STATS #
Overall 98 of 99
Sector (Software) 8 of 9
Type (Add-on Acquisition) 44 of 45
State (New York) 4 of 4
Country (United States) 60 of 60
Year (2024) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-18 Invetx

Boston, Massachusetts, United States

Invetx has built an integrated, best-in-class discovery, development, and manufacturing platform to create fully species-specific, optimized, and half-life extended product candidates. Invetx was founded in 2018 and is based in Boston, Massachusetts.

Sell $520M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-23 Proximie

London, United Kingdom

Proximie is a secure software solution which expands virtual surgical collaboration enabling surgeons to share expertise using augmented reality tools before, during and after surgery. Proximie was founded in 2016 and is based in London, United Kingdom.

Sell -
Mergr

Product

Company

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