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Vista completes insuretech deal

Vista Equity Partners has completed its acquisition of Duck Creek Technologies a provider of property and casualty and general insurance software solutions, for $19.00 per share, in an all-cash transaction valued at approximately $2.6 billion.

Vista Equity Partners (Vista) has completed its acquisition of Duck Creek Technologies (Duck Creek) a provider of property and casualty (P&C) and general insurance software solutions, for $19.00 per share, in an all-cash transaction valued at approximately $2.6 billion.

Vista focuses exclusively on investments in enterprise software, data, and technology-enabled businesses. 

With the completion of the transaction, shares of Duck Creek, whose clients include Berkshire Hathaway Specialty Insurance, Hollard Insurance, Northbridge Financial Corporation and Tokio Marine, have ceased trading and are no longer listed on the Nasdaq Global Select Market.

JP Morgan acted as financial advisor to Duck Creek, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Duck Creek.

RBC Capital Markets acted as financial advisor to Vista, and Kirkland & Ellis LLP acted as legal counsel to Vista.

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