Actua to Sell Stake in BOLT Solutions

Actua Corporation, formerly known as Internet Capital Group (ICG), announced that it has entered into separate agreements to sell its three majority-owned businesses (think: VelocityEHS, provider of EHS software, FolioDynamix, provider of wealth management software, and BOLT Solutions, provider of distribution software for insurers) for an aggregate of $549 million in cash.

The buyer of VelocityEHS and BOLT is CVC Growth Fund, a private equity and investment advisory firm founded in 1981 with over $65 billion in assets. It will acquire both VelocityEHS and Actua’s stake in BOLT Solutions (53%) for an aggregate purchase price of $328M in cash, based on a total enterprise value of $354M. Keyword: aggregate.

Bottom Line: Good. Bad. Indifferent. Recall: earlier this year, Travelers purchased Simply Business for ~$490 million. Simply Business is the UK equivalent of BOLT’s D2C operations, which is now entering the US.