Majesco, a company that provides cloud insurance software solutions, has signed a definitive agreement to be acquired by Thoma Bravo for $594 million. Following the closing of the transaction, Majesco will operate as a privately held company, it said in a statement.

Upon completion of the transaction, Majesco expects to continue to operate under the leadership of CEO Adam Elster and the existing Majesco leadership team, says Majesco.

Nomura Securities International is acting as financial advisor to Majesco, and Sheppard, Mullin, Richter & Hampton and Khaitan & Co are acting as legal advisors to Majesco and Majesco Limited, respectively. Kirkland & Ellis is acting as legal advisor to Thoma Bravo.

[Image courtesy: Majesco]