Acturis teams up with Summit Partners for European focus
Acturis has sold a minority stake in the company to 'growth equity' firm, Summit Partners, as it embarks on a European expansion strategy.
A spokesman for the insurance software firm said the company had identified Europe as an area of strong potential growth as the broker market on the Continent was fragmented.
"We are in a unique position in Europe as we offer software as a service - we are giving a complete service not just a product. The market in Europe for broker IT is pretty fragmented and there can be as many as 70 IT companies in one country.
"But the European broker market has increased in size over the past four or five
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