Guidewire Software acquired HazardHub, Inc. for approximately $53 million net cash consideration (including $8.2 million holdback subject to service conditions over three years), a transaction completed in August 2021, structured as all cash.
HazardHub, Inc. operates in Property risk data / insurtech, is based in USA. HazardHub provides API-driven property risk insights to the P&C insurance industry through curation, analysis, and distillation of vast amounts of data to deliver a comprehensive, national catalog of risks that may damage or destroy property.
HazardHub adds a comprehensive national catalog of property risks and API-driven risk insights, broadening Guidewire's data offerings and customer base (the acquisition added approximately 160 customers, many of which are not insurers).
A national, API-delivered property-risk catalog deepened Guidewire's data products and brought roughly 160 new customers, many outside its traditional insurer base. Offered as Guidewire HazardHub within Guidewire's data products.
On August 18, 2021, the Company completed its acquisition of HazardHub, Inc. ("HazardHub") for net cash consideration of approximately $53 million, subject to customary transaction adjustments, including $8.2 million of acquisition consideration holdback subject to service conditions over the next three years. HazardHub provides API-driven property risk insights to the property and casualty insurance industry through curation, analysis, and distillation of vast amounts of data to deliver a comprehensive, national catalog of risks that may damage or destroy property.Guidewire FY2022 Form 10-K, Acquisitions note
Advisory firms were not disclosed for this transaction.