January 13, 2023 | Technology | North America | Ended

Duck Creek Technologies / Vista Equity Partners: Deal Insight

Duck Creek Technologies, an insurance software vendor that IPO’d in August 2020, announced on 9-Jan-23 that it has agreed to be taken private by Vista Equity Partners in a deal valued at $2.6bn. Vista, a private equity firm which focuses on enterprise software and data ventures, is offering $19.00 per share, implying a 46% one-day premium. Conditions to closing include 50% approval by target shareholders and HSR approval; an HSR notification was expected by 11-Jan-23, which suggests the waiting period will expire on 10-Feb-23. The merger agreement contains customary clauses, with MAC carve-outs for pandemics and war. The termination fee is ...

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