Accelerant, a data-driven risk exchange platform that operates the Accelerant Risk Exchange for the specialty insurance marketplace, has entered into a definitive agreement to be acquired by Thoma Bravo, one of the largest private equity firms focused on enterprise software and technology investments. The all-cash transaction values Accelerant at an enterprise value exceeding $4 billion and will return the company to private ownership.

Under the terms of the agreement, holders of Accelerant Class A and Class B shares will receive $20.25 per share in cash. This represents a 49% premium to Accelerant's closing share price on August 12, 2026.

Jeff Radke, Chairman and CEO of Accelerant, said: "Accelerant has been building the preeminent specialty insurance marketplace since our founding in 2018. Returning to private ownership with Thoma Bravo's technology and software expertise, coupled with its vast financial and strategic resources, will enable us to make investments that further position our unique, data fueled platform to be the rails on which specialty insurance runs."

Karen Meriwether, Chair of the Special Committee, stated: "We are pleased to have reached this agreement with Thoma Bravo. The Special Committee believes this transaction recognizes the valuable platform and ecosystem that the Accelerant team has built, and provides immediate value to shareholders at a substantial premium."

The deal underscores growing private equity interest in insurance technology platforms that improve underwriting efficiency and data analytics for the specialty insurance sector. Thoma Bravo, which has a track record of acquiring and scaling software-driven businesses, has previously invested across insurance technology and data-driven platforms.

A.J. Rohde, Senior Partner at Thoma Bravo, commented: "We have immense admiration for Jeff, his team and the business they've built. As the MGA market continues to grow, underwriters are looking for a committed technology-forward partner who can unlock rapid program growth and underwriting innovation. We've invested in insurance technology and data businesses for years, and we're excited to work alongside the entire Accelerant team."

Matt LoSardo, a Principal at Thoma Bravo, added: "Accelerant has built something rare in specialty insurance. Its risk exchange connects underwriters with risk capital and gives both sides the data to price risk better than either could alone. We look forward to partnering with Jeff and the team to invest behind the technology, data and capital capacity to support Accelerant's next phase of growth."