Vista Equity Partners to take insurance software firm Duck Creek private for $2.6bn

According to terms of the agreement, Duck Creek shareholders will receive $19 per share in cash.

  • J.P. Morgan is acting as financial advisor to Duck Creek while Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel
  • Kirkland & Ellis LLP is providing legal counsel to Vista Equity Partners
  • Vista has more than $95 billion in assets under management as of September 30, 2022

Vista Equity Partners has agreed to acquire Boston-based Duck Creek Technologies, an insurance software firm, in a take-private deal for $2.6 billion.

According to terms of the agreement, Duck Creek shareholders will receive $19 per share in cash. The transaction is expected to close in the second calendar quarter of 2023. At that point, Duck Creek will no longer trade on the stock market.

“Duck Creek is playing an outsized role in accelerating cloud strategies and unlocking all the advantages they provide this crucial sector of today’s economy,” said Monti Saroya, senior managing director and co-head of Vista’s Flagship Fund in a statement. “Duck Creek’s modern cloud architecture and demonstrated market traction position it to define the next generation of mission-critical technology for P&C insurance.”

J.P. Morgan is acting as financial advisor to Duck Creek while Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to Duck Creek. Kirkland & Ellis LLP is acting as legal counsel to Vista Equity Partners.

Vista has more than $95 billion in assets under management as of September 30, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations.