TRANZACT and White Mountains Insurance Group, Ltd. (“White Mountains”) announced that White Mountains has made a majority investment in TRANZACT, a leading provider of end-to-end customer acquisition solutions to the insurance sector. White Mountains acquired approximately 63% of TRANZACT for a purchase price of $178 million, representing an enterprise value of approximately $280 million. Cravath represented White Mountains in this transaction.

The Cravath team was led by partners Ting S. Chen and Philip A. Gelston and included associates Wesley C. Bell and Brendan M. Cottington on M&A matters; partner Christopher K. Fargo and associate Andrew Carlon on tax matters; practice area attorney M. C. Tania Balthazaar and associate Matthew J. Bobby on executive compensation and benefits matters; and associate Benjamin D. Landry on intellectual property matters.