iPipeline, a life-insurance and financial-services software maker based in Exton, has been sold to Thoma Bravo L.L.C., a private-equity firm with offices in San Francisco and Chicago, the companies announced Wednesday.
The price was not disclosed. iPipeline, founded in 1995, employs more than 400 and had $60.7 million in revenue in 2013, according the 2014 Inc. 5000 ranking of fast-growing companies.
The sellers were venture-capital firms NewSpring Capital, of Radnor; Technology Crossover Ventures, of Palo Alto, Cal.; and Volition Capital, of Boston.
Bloomberg News reported in November that iPipeline's venture capital owners were contemplating a private sale or an intitial public offering of iPipeline with a value of $500 million.