A Takeover

A Takeover

Share this article

  • The acquisition agreement between Vista Equity Partners and insurance technology startup Duck Creek Technologies sent its stock surging on Monday. According to the agreement, Vista must pay $19 per share in cash, or around $2.6B. The price is 46% more than Friday's close of $12.99. Duck Creek's stock increased by almost 46.5% to $19.03, above the offer price.
  • Duck Creek, a provider of enterprise software for property and liability insurers, went public in August 2020 for $27 per share, and by February 2021, it had reached a high-water peak of over $59 per share. It later suffered a decline in the value of its stock of around 60% in 2022 due to a lack of interest from investors in previously fast-growing regions.

Why it matters

Duck Creek will be part of Vista's larger portfolio of tech enterprises. Last Monday, Duck Creek released the results of its fiscal first quarter, which showed revenue of $80.6M and a net loss of $5.2M.


Get Smarter
About Investing

Join 35,000+ subscribers and get our 5 min daily newsletter on daily local and international financial news.
Get Smarter<br/> About Investing

Similar News