Private equity investor AnaCap has initiated exclusive discussions to acquire Cleva, an insurance software company, from Inetum Group. 

The financial terms of the transaction were not disclosed.  

Cleva specialises in delivering software solutions for the core health, life and non-life insurance sectors.  

Based in Paris, the company operates mostly in France, Portugal and Spain, catering to more than 60 insurance providers and brokers. 

Cleva maintains a workforce of around 550 individuals spread across offices in Paris, Lyon, Porto and Lisbon. 

At present, Rodolphe Peim serves as CEO of Cleva, supported by a management team in France and Portugal. 

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AnaCap stated that Cleva is strategically positioned to capitalise on the ongoing outsourcing trends in the insurance sector, where there is rapid adoption of third-party software solutions.  

With support from AnaCap’s extensive expertise in insurance and software, Cleva aims to expedite its growth initiatives and broaden its presence, particularly in the Iberian region. 

AnaCap managing partner Nassim Cherchali said: “We believe that Cleva is well positioned to grow its offering as a leading insurance software provider across Europe but also to expand its business reach into new geographies.  

“We were particularly impressed by the efforts made by the management team over the last three years in developing a modern tech stack across both life and non-life solutions and we are very excited to begin the next phase of growth with Cleva.” 

Cleva CEO Rodolphe Peim said: “Over the past years, Cleva has been recognised for the quality of our solutions and its ability to carry out large-scale, transformative projects for our clients. This success represents a great source of pride for all Cleva employees.  

“From our first discussions, AnaCap showed a total commitment to pursue and support our growth strategy and thus demonstrated a true alignment with our fundamentals. I am delighted to partner with AnaCap, and we look forward to this new chapter together.” 

The completion of the transaction is contingent upon the information and consultation of the Inetum Group’s employee representative bodies, as well as standard closing conditions such as antitrust approval.  

It is expected to finalise in the second half of 2024.