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Duck Creek Technologies to Be Acquired by Vista Equity Partners for $2.6 Billion
- Client News
- January 9, 2023
Paul, Weiss is advising a special committee of Duck Creek Technologies’ board of directors in connection with Duck Creek’s sale to leading global investment firm Vista Equity Partners in an all-cash, take-private transaction valued at approximately $2.6 billion. Duck Creek is an intelligent solutions provider defining the future of property and casualty (P&C) insurance.
The Duck Creek special committee, composed entirely of independent and disinterested directors, led the transaction negotiations. Under the terms of the agreement, Duck Creek shareholders will receive $19.00 per share in cash, which represents a 46% premium to Duck Creek’s closing stock price on January 6. The deal is expected to close in the second quarter of 2023, subject to customary closing conditions.
The Paul, Weiss team is led by partners Laura Turano, Matthew Abbott, Andre Bouchard and Scott Barshay, and includes corporate partners Christodoulos Kaoutzanis, Caith Kushner, Cullen Sinclair and Megan Spelman, and counsel Cristina Amodeo and Jason Tyler; litigation partners Joshua Soven and Andrew Gordon; executive compensation partner Jarrett Hoffman; intellectual property partner Jonathan Ashtor and counsel Bonnie Chen; tax partner Robert Holo and counsel Anne McGinnis; and antitrust counsel Marta Kelly.