Vista Equity to take insurtech Duck Creek private

January 10, 2023 10:33
Robert Smith, Founder, Chairman and CEO, Vista Equity Partners  Photo: Reuters

Investment firm Vista Equity Partners is buying insurtech Duck Creek Technologies for US$2.6 billion, according to PYMNTS.

The companies announced the all-cash deal, which takes Duck Creek private, in a news release Monday.

Based in Boston, Duck Creek provides solutions for the property and casualty (P&C) and general insurance industry.

The acquisition is expected to close in the second quarter of 2023.

Vista Equity is headquartered in Austin, and has US$95 billion in assets under management.

Last October saw the company purchase cybersecurity firm KnowBe4 for US$4.6 billion.

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