Insurance firm Liberty Mutual has exited US-headquartered data management software producer Utopia Global in an acquisition of undisclosed size by asset management software provider Prometheus Group.
Founded in 2003, Utopia provides software that helps enterprise users manage, analyse and enrich data, and many of its products are distributed internationally by enterprise software producer SAP.
Liberty Mutual took part in a $50m funding round for the company that was led by private equity firm FTV Capital in 2012. It has also identified Trinity Private Equity Group as a shareholder at the time of the acquisition.
