Vista’s $19 per-share offer represents a 46% premium on Duck Creek’s most recent market closing price, and a 64% premium on its volume-weighted average price (VWAP) over the previous 30 days, equating to $2.6 billion, which Vista said it will pay in an all-cash transaction.
“Vista has an established track record of partnering with leading enterprise software businesses within the insurance industry and related verticals,” Vista managing director Jeff Wilson said in a press release. “We are excited to work with the Duck Creek team as we look to build on their best-in-class platform and solutions, which serve many of the world’s leading P&C insurance carriers.”
Vista said that it expects to conclude the transaction in Q2 2023.
Vista Equity Partners to acquire insurance software company Duck Creek for $2.6B by Paul Sawers originally published on TechCrunch