Until Feb. 7, 2023, Duck Creek will have a “go-shop” period, during which the company can actively initiate, solicit and consider alternative offers. Duck Creek’s board can terminate the merger agreement with Vista should a superior offer materialize. (Credit: Valery Kachaev/Adobe Stock) Until Feb. 7, 2023, Duck Creek will have a “go-shop” period, during which the company can actively initiate, solicit and consider alternative offers. Duck Creek’s board can terminate the merger agreement with Vista should a superior offer materialize. (Credit: Valery Kachaev/Adobe Stock)

Vista Equity Partners is moving to purchase Duck Creek Technologies in a deal valued at $2.6 billion, according to the acquiring firm. Duck Creek shareholders will receive $19 per share, a 64% premium to the 30-day volume-weighted average price (ending Jan. 6, 223). Vista reported it plans to take Duck Creek private upon the transaction’s closing.

The all-cash transaction, which is backed with fully committed equity financing that is not subject to any financing conditions, is expected to close during 2023’s section quarter. Shares of Duck Creek rose more than 40% following the announcement on Jan. 9, 2023, according to an MT Newswire update.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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