DCT - Duck Creek Technologies rises after acquisition announcement

• Duck Creek Technologies' shares rose ~50% after the company announced an acquisition interest by the investment firm Vista Equity Partners.
• Vista is set to acquire the property and casualty insurance provider Duck Creek Technologies ( NASDAQ: DCT ) in ~$2.6B all-cash transaction.
• The investment firm will pay $19 per share to Duck Creek shareholders, which represents a 46% premium to Duck Creek's closing stock price on Jan. 6 and a premium of ~64% over the volume weighted average price of DCT's stock for the 30 days ending Jan. 6.
• Duck Creek's board has approved the transaction, but the stockholder and U.S. antitrust clearance approval is pending.
• The transaction is expected to close in Q2.
• Source: Press Release

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