Zywave acquired by Clearlake Capital in latest M&A activity

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Zywave, a Wisconsin-based insurance technology provider, has been acquired by private investment firm Clearlake Capital Group for an undisclosed amount.

Clearlake purchased the insurance agency software provider from Aurora Capital Partners, and there will be no change in leadership.

Zywave CEO Jason Liu will continue in the same role with the current management team. When Liu joined Zywave in 2018 he said he worked with his team to develop a clear growth strategy and product roadmap for the company that embraced innovation and organic growth through increased investment in research.

Since then Zywave has accomplished those goals along with a 25% increase in R&D investments, as well as three acquisitions and the consolidation of its products into an integrated, cloud-based platform.

“This new investor relationship will further expand Zywave’s leadership position in the insurtech industry and strengthen our position to achieve our long-term strategy,” Liu says.

Last year Zywave acquired three organizations in just over a year. It’s most recent purchase was of miEdge, a provider of data analytics and prospecting solutions designed for the insurance industry. That 2019 acquisition significantly expanded Zywave’s existing data services division.

Zywave hasn’t announced any acquisitions in 2020 as the COVID-19 crisis has slowed dealmaking.

“We are still fully committed to our growth strategy, both organically and through M&A, and look forward to sharing more news in the coming months — 2020 isn’t over yet,” Liu says.

Zywave’s acquisition by Clearlake reinforces the company’s commitment to support the insurance landscape as a whole. Liu says Zywave’s intention is to create solutions that help its partners operate more efficiently and effectively, which will ultimately drive growth.

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