Private AI software company (insurtech)
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Acquisition target
Guidewire, the software backbone for more than 570 property and casualty insurers in 44 countries, agreed Monday to buy London-based hyperexponential for $1.7 billion in cash, plus up to $400 million more if revenue targets are met. hyperexponential's AI pricing software has powered underwriting decisions on more than $75 billion in annual commercial insurance premium.
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