DCT Stock Recent News

Duck Creek (NASDAQ: DCT ) stock is taking off on Monday after announcing that global investment firm Vista Equity Partners plans to acquire the company for $2.6 billion. According to a press release, Vista Equity Partners is willing to spend $19 in cash per share to take Duck Creek private.

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Duck Creek Technologies Inc (NASDAQ: DCT) opened nearly 50% up this morning after Vista Equity Partners said it will buy the insurance software company for $2.6 billion. Details of the Duck Creek-Vista Equity deal The agreement translates to $19 a share – about a 46% premium on DCT's previous close.

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.

The insurance technology provider's customers include AIG and Berkshire Hathaway.

Vista will pay $19 per share in cash, or about $2.6 billion, according to CNBC's David Faber.

Duck Creek Technologies DCT, +15.16% stock rose 39% in premarket trades Monday after the property and casualty insurance software and services provider agreed to be taken private by Vista Equity Partners for $19 a share in a deal valued at $2.6 billion. The price of $19 a share is a 46% premium to Duck Creek's closing stock level on Friday.

Duck Creek Technologies, Inc. (NASDAQ:DCT ) Q1 2023 Results Conference Call January 5, 2023 5:00 PM ET Company Participants Brian Denyeau - IR, ICR Mike Jackowski - CEO Kevin Rhodes - CFO Conference Call Participants Dylan Becker - William Blair Saket Kalia - Barclays Parker Lane - Stifel Strecker Backe - Wolfe Research Peter Heckmann - D.A. Davidson Rishi Jaluria - RBC Alex Sklar - Raymond James Operator Thank you for standing by, and welcome to Duck Creek Technologies' First Quarter Fiscal Year 2023 Earnings Call.

Duck Creek Technologies plans to acquire Imburse Payments to add digital transformation tools for insurers. The acquisition will add Imburse's digital payments capabilities built for insurers to Duck Creek's range of Software-as-a-Service (SaaS) solutions for property and casualty (P&C) and general insurers, the companies said in a Thursday (Jan. 5) press release.

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