Travelers buys Simply Business
Digital broker bought for an enterprise value of $490m.
Travelers has confirmed that it is to buy Simply Business from private equity firm Aquiline Capital Partners for an enterprise value of approximately $490m [£400.6m].
Simply Business was sold to Aquiline by fellow private equity company AnaCap Financial Partners in April 2016.
Alan Schnitzer, chief executive officer of Travelers, said: "Simply Business is a profitable and growing technology company with impressive strategic digital capabilities, leading digital commerce talent and proven small
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