Guidewire Buys Hyperexponential
Insurance software maker Guidewire has agreed to purchase hyperexponential in a cash and earnout deal valued at up to $2.1 billion. The acquisition expands its artificial intelligence underwriting capabilities for commercial property and casualty insurers.
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GUIDEWIRE SOFTWARE INC agreed to buy United Kingdom-based insurance software provider hyperexponential for $1.7 billion in cash and up to $400 million in performance-based earnouts. The transaction expands Guidewire's product suite into artificial intelligence tools designed for commercial property and casualty underwriters. Guidewire's software currently serves more than 570 insurers across 44 countries.
