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New Deal


Announced

Next Insurance to acquire AP Intego.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Digital Services

Private

Domestic

Acquisition

United States

digital insurance agency

Pending

Single Bidder

Friendly

Synopsis

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Next Insurance, the digital insurtech company transforming small business insurance, agreed to acquire AP Intego, a digital insurance agency providing a suite of small commercial insurance products to some of the largest small business software ecosystems in the US, including Intuit, Gusto, Square and Toast. Financial terms were not disclosed. AP Intego's platform provides an embedded insurance offering alongside its partners' core products. With a foundation built around many of the leading payroll software providers, AP Intego delivers a digital buying experience for pay-as-you-go workers' compensation insurance to tens of thousands of small businesses. "At Next Insurance, we're modernizing a centuries-old industry to better provide small business owners with convenience, value, and choice. We're excited to welcome the AP Intego team to Next Insurance. This acquisition marks an industry-defining milestone in our efforts to build a market-leading one-stop-shop for small business insurance," Guy Goldstein, Next Insurance CEO and co-founder.

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