The sale by Lowenstein client NexPhase Capital, LP (NexPhase) of Flexible Architecture & Simplified Technology, LLC (FAST) to Verisk Analytics, Inc. (Verisk) for $193.5 million has been named “Technology, Media & Telecom Deal of the Year” by The Deal Awards Middle Market NYC 2020.
In December 2019, NexPhase, an operationally focused private equity firm, agreed to sell FAST, a leading software company for the life insurance and annuity industry, to Verisk. FAST is a leader among technology companies, supporting the insurance industry's modernization efforts. It provides core software that allows life insurers to efficiently enhance or replace their legacy policy administration, new business, and distribution management systems. Nexphase partnered with FAST in 2015, working closely with the co-founders to further establish its position in the insurance software industry.
The Lowenstein Sandler deal team included Christopher C. Henry, Zarema A. Jaramillo, Marc S. Kurzweil, Jack Sidorov, Michael Walutes, Julie Levinson Werner, Bianka V. Barraza, Bettina C. Elstroth, Katie R. Glynn, Amanda C. Lutick, Stefanie Manna, and Megan Monson.
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Stephen J. Kimmerling
Director, Marketing Communications
Lowenstein Sandler LLP
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