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New Deal


Announced

Dragoneer Investment Group, Neuberger Berman, Insight Partners and Temasek to invest $120m in Duck Creek Technologies.

Financials

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Transaction Value£91m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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software development

Software

Minority

Private Equity

Pending

enterprise software

Acquisition

Friendly

United States

software-as-a-service

Private

Single Bidder

Synopsis

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Dragoneer Investment Group, Neuberger Berman, Insight Partners and Temasek agreed to invest $120m in Duck Creek Technologies, a provider of SaaS-delivered enterprise software to the property & casualty insurance industry. "The partnership of these new investors with Duck Creek speaks to the momentum we have achieved as the SaaS leader in P&C core systems and the opportunities we see ahead. Our Platform’s ability to deliver real business value has driven our strong operating and financial performance. That success combined with this increased investment will power our growth – particularly through Duck Creek OnDemand, our industry-leading SaaS solution – and international expansion," Michael Jackowski, Duck Creek Chief Executive Officer.

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