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CCC Information Services Going Public in $7 Billion Blank Check Transaction

CCC Information Services Going Public in $7 Billion Blank Check Transaction
By Niket Nishant | February 3, 2021
CCC Information Services said on Wednesday it was going public through a merger with blank-check firm Dragoneer Growth Opportunities Corp., in a deal valuing the data and technology provider to automotive and insurance companies at about $7 billion.
The deal is expected to fetch CCC Information $968 million in proceeds, including a $150 million private investment from Fidelity Investments, T. Rowe Price and others.
A special purpose acquisition company (SPAC), also known as a blank-check company, gained popularity as an alternative route to public markets last year, for companies seeking to avoid a traditional initial public offering. ....

Niket Nishant , Shinjini Ganguli , Fidelity Investments , York Stock Exchange , Dragoneer Growth Opportunities Corp , Ccc Information Services , New York Stock Exchange , Evercore Group , Dragoneer Growth Corp , Intelligent Solutions Holdings Inc , Growth Corp , Solutions Holdings , New York Stock , நீக்கேத் நிஷாந்த் , ஷின்ஜினி கங்குலி , நம்பகத்தன்மை முதலீடுகள் , யார்க் ஸ்டாக் பரிமாற்றம் , சி.சி.சி. தகவல் சேவைகள் , புதியது யார்க் ஸ்டாக் பரிமாற்றம் , புத்திசாலி தீர்வுகள் ஹோல்டிங்ஸ் இன்க் , வளர்ச்சி கார்ப் , தீர்வுகள் ஹோல்டிங்ஸ் , புதியது யார்க் ஸ்டாக் ,

Chicago software firm CCC Information Services going public in SPAC deal

CCC Information Services CEO Githesh Ramamurthy
CCC Information Services, the Chicago-based software firm that’s built a $600 million business on a digital platform serving the property and casualty insurance industry, is returning to the public markets.
Fourteen years after selling to an investment firm and then bouncing through two more private-equity owners, CCC has a deal to go public via a transaction with a special purpose acquisition company called a SPAC run by San Francisco-based Dragoneer Investment Group. The deal will value CCC at about $6.5 billion and is slated to be finalized in the second quarter.
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SPACs, better known as blank-check companies, are proving to be a popular alternative to the traditional initial public offering. Dragoneer Growth Opportunities, the SPAC acquiring CCC, was down 4.4 percent on the news in early afternoon trading. ....

United States , San Dragoneer Investment Group , Ccc Information Services , San Francisco Based Dragoneer Investment , ஒன்றுபட்டது மாநிலங்களில் , சி.சி.சி. தகவல் சேவைகள் ,

Insurance Tech Firm CCC Information to Go Public Via $7B SPAC Deal

Insurance Tech Firm CCC Information to Go Public Via $7B SPAC Deal
February 3, 2021
CCC Information Services said on Wednesday it was going public through a merger with blank-check firm Dragoneer Growth Opportunities Corp, in a deal that valued the data and technology provider to auto and insurance firms at about $7 billion.
The deal is expected to fetch CCC Information $968 million, including a $150 million private investment from Fidelity Investments, T. Rowe Price and others.
Funds associated with Dragoneer and billionaire Michael Bloomberg’s family office have also separately invested $175 million.
The company, founded in 1980, allows insurance holders to get a repair estimate of damaged vehicles once they upload photos on its app. Nearly 300 U.S. insurers use its technology, according to the company’s website. ....

Michael Bloomberg , Fidelity Investments , York Stock Exchange , Dragoneer Growth Opportunities Corp , Ccc Information Services , New York Stock Exchange , Dragoneer Growth Corp , Evercore Group , Advent International , Intelligent Solutions Holdings Inc , Growth Corp , Solutions Holdings Inc , New York Stock , மைக்கேல் ப்ளூம்பெர்க் , நம்பகத்தன்மை முதலீடுகள் , யார்க் ஸ்டாக் பரிமாற்றம் , சி.சி.சி. தகவல் சேவைகள் , புதியது யார்க் ஸ்டாக் பரிமாற்றம் , புத்திசாலி தீர்வுகள் ஹோல்டிங்ஸ் இன்க் , வளர்ச்சி கார்ப் , தீர்வுகள் ஹோல்டிங்ஸ் இன்க் , புதியது யார்க் ஸ்டாக் ,