M&A Deal Summary

Vista Equity Partners Acquires Duck Creek

On January 9, 2023, private equity firm Vista Equity Partners acquired software company Duck Creek for 2.6B USD

Acquisition Highlights
  • This is Vista Equity Partners’ 54th transaction in the Software sector.
  • This is Vista Equity Partners’ 10th largest (disclosed) transaction.
  • This is Vista Equity Partners’ 124th transaction in the United States.
  • This is Vista Equity Partners’ 14th transaction in Massachusetts.

M&A Deal Summary
Date 2023-01-09
Target Duck Creek
Sector Software
Buyer(s) Vista Equity Partners
Deal Type Going Private
Deal Value 2.6B USD
Advisor(s) J.P. Morgan Securities (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Duck Creek

Boston, Massachusetts, United States
Duck Creek is a provider of comprehensive P&C insurance software and services delivered on-premise or via Duck Creek On-Demand, a Software as a Service model. The company delivers configurable software that is designed to work independently or as a combined approach to quickly and seamlessly handle the unique needs of insurers of all sizes. Its technology solutions enable clients to optimize outcomes through streamlined operations, shared data, and consistent functionality. Duck Creek was incorporated in 1883 and is headquartered in Boston, Massachusetts.

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Buyer(S) 1

Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 135 of 149
Sector (Software) 54 of 59
Type (Going Private) 21 of 25
State (Massachusetts) 14 of 17
Country (United States) 124 of 137
Year (2023) 1 of 8
Size (of disclosed) 10 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-12 KnowBe4

Clearwater, Florida, United States

KnowBe4 is a provider of security awareness platform that helps organizations address the human element of security by raising awareness about ransomware, CEO fraud and other social engineering tactics through a new-school approach to awareness training on security. KnowBe4 was founded in 2010 and is based in Clearwater, Florida.

Buy $4.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-19 Zapproved

Portland, Oregon, United States

Zapproved is a provider of developing cloud‐based software for corporate legal departments. The Z-Discovery Platform returns power to in‐house corporate legal teams and helps them navigate electronic discovery with minimal risk and cost, and it sets new standards for scalability and intuitive design. Zapproved was founded in 2008 and is based in Portland, Oregon.

Sell -
Mergr

Product

Company

Legal