Wednesday, 03 February 2021 17:08

CCC Information Services Inc. Merges, Will Go Public


...leading SaaS platform for the P&C insurance ecosystem,” said Eric Wei, managing director at Advent. “Since 2017, we’ve partnered with Githesh and the CCC management team to accelerate organic growth through a focus on innovation, and we believe this sustained investment in R&D will deliver significant ROI for customers for decades to come.


"Advent is excited to partner with Dragoneer, with its preeminent technology investing franchise, to support CCC’s continued focus on digitally transforming the insurance economy. We have strong conviction in CCC’s growth potential and are not selling a single share as part of the transaction.”
“CCC is one of those rare software companies that serves as the backbone of a critical industry---the P&C insurance economy,” said Marc Stad, founder and portfolio manager at Dragoneer. “As the products we use and the cars we drive become more and more sophisticated, insurers, consumers, manufacturers and service providers require increasing amounts of support and coordination whenever issues occur.


"CCC’s advanced technology platform enables the right groups to connect quickly and efficiently, and its twenty-plus years of profitable growth are a testament to the value the company provides to its customers. The CCC team’s impressive track record of execution and financial performance speaks for itself, and we are thrilled to partner with them and Advent as they work to realize their ambitious vision for the business.”


Source: CCC


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