Private equity giant Vista Equity Partners has announced plans to take Duck Creek Technologies private in a $2.6 billion deal.
Boston-based Duck Creek, a SaaS-based software provider for the property and casualty (P&C) insurance sector, went public back in 2020, initially hitting a market cap of around $5 billion. After peaking at around $7 billion in early 2021, Duck Creek’s fortunes have fallen somewhat, with its valuation plummeting to below $2 billion over the past year, with a closing price of around $13 per share as of Friday.
Vista’s $19 per-share offer represents a 46%
Vista Equity Partners to acquire insurance software company Duck Creek for $2.6B
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