Shares of Duck Creek Technologies Pop on Takeover Deal

Published on 9 Jan 2023 on GuruFocus.com via Yahoo Finance

Shares of Duck Creek Technologies Pop on Takeover Deal

Nearly two and a half years after its initial public offering, Duck Creek Technologies Inc. (NASDAQ:DCT) announced on Monday it is being taken private by Vista Equity Partners for $2.6 billion.

According to the terms of the all-cash agreement, Vista will pay $19 per share for the Boston-based company, a 46% premium to its closing price of $12.99 on Friday.

Headquartered in Austin, Texas, the private equity firm is known for focusing exclusively on enterprise software, data and technology-enabled companies. Duck Creek, which develops enterprise software for the property and casualty insurance industry, fits into this category with its cloud solutions for providers of all sizes.

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