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Accenture is selling a 60% stake in its Duck Creek Technologies to Apax Partners, a venture capital and private equity firm.

London-based private equity and venture capital firm Apax Partners has agreed to acquire a 60% equity stake in Duck Creek Technologies, the insurance software business of Dublin-based management consulting giant Accenture.

Financial terms were not disclosed, but the companies said the joint venture will operate as a new and independent company. Bolivar, Mo.-based Duck Creek’s senior management, and approximately 1,000 insurance and insurance software specialists, are expected to join the new joint venture. 

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