Duck Creek Technologies shares jump on buyout deal with Vista Equity

Duck Creek Technologies stock rose 39% in premarket trades Monday after the property and casualty insurance software and services provider agreed to be taken private by Vista Equity Partners for $19 a share in a deal valued at $2.6 billion. The price of $19 a share is a 46% premium to Duck Creek’s closing stock level on Friday. The deal is expected to close in the second quarter of this year. Monti Saroya, senior managing director and co-head of Vista’s flagship fund led the deal, along with Jeff Wilson, managing director at Vista.

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