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Thursday, April 18, 2024
HomeBusinessBain Capital Reportedly Eyes CCC Intelligent Solutions for Takeover

Bain Capital Reportedly Eyes CCC Intelligent Solutions for Takeover

Private equity firm Bain is considering a potential acquisition of car insurance software vendor CCC Intelligent Solutions. Bain is one of several interested buyers, with CCC Intelligent Solutions currently backed by private equity firm Advent International. While no final decision has been made, Bain may choose to pursue the takeover of the Chicago-based company.

The news comes after CCC Intelligent Solutions’ shares saw a 4% increase following a Reuters report that Advent was exploring a sale of the company. Advent currently holds a 56% stake in CCC Intelligent Solutions, which has a market capitalization of $7.7 billion. Advent initially took CCC Intelligent Solutions public through a special purpose acquisition company (SPAC) deal in February 2021.

This potential acquisition by Bain reflects the growing interest in the car insurance software industry and the value placed on CCC Intelligent Solutions’ technology and services. As one of the suitors, Bain is evaluating the opportunity to expand its portfolio and gain a competitive edge in the market. However, it should be noted that the decision to pursue the acquisition has not been finalized, and Bain may choose not to proceed with the deal.

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