Riverside's Fadata bolts-on Impeo

Fadata's main product, Insurance Integrated System, is designed for the automation of life, property and casualty insurance businesses across the UK sector. With the acquisition of Impeo, Fadata aims to access the DACH region and the wider European market.

In July 2015, Riverside along with the company's management and Charles Taylor, a listed provider of insurance technology services, acquired a majority stake in Fadata in a buyout transaction. Following the deal, Fadata had an enterprise value of €20.4m.

Impeo was backed by Bayerische Beteiligungsgesellschaft in January 2011 with later-stage venture funding, with the firm acquiring a minority stake in the company.

Company
Impeo is a front-end software developer and IT consulting service for insurance and financial institutions specialising in software accelerators, implementation, ongoing maintenance and support services. The company is headquartered in Munich and was founded in 2002.

People
The Riverside Company – Martin Scott (partner).
Fadata – John Macdonald (CEO).

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• Topics
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• DACH
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