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.
Duck Creek
“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
