DCT - Duck Creek to acquire Prima XL terms not disclosed

Duck Creek Technologies (NASDAQ:DCT) has agreed to acquire Prima XL, France-based Prima Solutions’ flagship commercial reinsurance technology solution. Financial terms were not disclosed. Prima XL will further enhance company’s value to current and future customers by simplifying reinsurance management. The transaction terms also include an agreement to purchase Prima Compliance for Solvency II, a compliance solution which Duck Creek intends to continue offering in the French marketplace. With these acquisitions, the company will expand its global operations and local presence in the European (EMEA) and Asia-Pacific-Australia (APAC) regions, retaining core talent and operations in Paris, France to complement the company’s existing operations in the United Kingdom and Spain. Prima Solutions’ personnel will join the company to support Prima XL and Prima Compliance sales, customer success, and operations. Mike Jackowski, Duck Creek’s chief executive officer commented, “The insurance industry is undergoing a generational modernization of its technology infrastructure while organizations seek

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Duck Creek to acquire Prima XL, terms not disclosed