Vertafore Still Expanding in Seattle

By Susanna Morgan

Senior Vice President, Corporate Development

Vertafore

The December issue of Seattle Business Magazine included Vertafore one of the regions largest software companies on the Most Likely to Be Missed list given our acquisition by an out-of-state buyer, inferring that Vertafore would soon be leaving the area.

However, what the story didnt convey was our companys strength and commitment to the Seattle area. TPG Capital, an out-of-state private equity firm with an impressive track record in the technology field, invested a significant amount in Vertafore in July. TPGs goal is to grow Vertafore, unlike many acquisitions between competitors where the primary goal is cost reduction and the acquired firm loses control. The investment by TPG does not affect our independence and doesnt mean were planning a move any time soon.

In fact, prior to the TPG investment, Vertafore was owned by San Francisco-based private equity firm Hellman & Friedman since 2004. In the past six years, Vertafore has grown employment by over 200% and recently moved its Bothell headquarters into a new building (also in Bothell) in what was one of the largest Eastside real estate transactions of 2009. Weve consistently grown revenues and profits, even in this difficult economy. And we continue to increase our headcount as well weve added nearly 200 new employees in the last 12 months and are currently recruiting for another 55. Weve been extremely successful doing business here thanks to the highly skilled employment base and excellent quality of life and our roots in Seattle are strong.

Seattle is a great place to do business, and were committed to the region. Were here to stay.