GTCR and Elliott in advanced talks to acquire CCC Intelligent Solutions, reportedly
CCC•GTCR and Elliott Investment Management are in advanced talks to acquire CCC Intelligent Solutions, reportedly, and a deal could be announced as soon as next week. No final agreement had been reached, and CCC shares rose about 11% in extended trading.
1. Acquisition talks
GTCR and Elliott Investment Management are in advanced talks to acquire software provider CCC Intelligent Solutions, reportedly citing people familiar with the matter. A deal could be announced as soon as next week, but no final agreement had been reached and financial details were not disclosed.
2. Company background
CCC provides software that helps auto insurers, repair shops, automakers and parts suppliers manage operations. The company had explored a sale and hired Morgan Stanley to advise on the process, while potential buyers included private equity firms.
