13th Jan 2023 09:02
Apax Global Alpha Ltd - Guernsey-based closed-ended investment company - Says portfolio company Duck Creek Technologies has entered an agreement to be acquired by Vista Equity Partners for USD19.00 per share in cash, or around USD2.6 billion. Apax says the transaction values its current investment in Duck Creek at EUR32.3 million, an uplift of about 46% to last unaffected valuations. The transaction also represents a EUR10.3 million uplift in adjusted net asset value of Apax at September 30. The acquisition is still subject to approval by Duck creek's stockholders, the company says. Apax acquired a majority stake in Duck Creek in 2016. On Wednesday, Apax Global said Duck Creek agreed to be bought by Vista for around USD2.6 billion. Read More
