Penningtons Manches Cooper’s corporate team has advised Whitespace Software on its investment and acquisition agreement with Sequel.
Whitespace is a London-based provider of digital placing technology to the re/insurance market and is one of only two platforms fully approved by Lloyd’s. It has particular expertise in digital contracts, electronic trading, claims management, pricing and Lloyd’s members’ agents. With the investment from Sequel, a software provider to the sector, Whitespace will be able to continue its development in the global re/insurance marketplace, receiving full access to the resources of Sequel and its parent company, Verisk.
Following the deal, Whitespace will maintain its brand and have operational autonomy.
Partner Simon Bickerdike led on the transaction, supported by associate Richard Price.
On working with Penningtons Manches Cooper, Marcus Broome, chief platform officer of Whitespace, said: “Simon and Richard demonstrated a clear understanding of what we wanted to achieve and confidently guided us through the deal.”