CCC Intelligent Solutions (CCCS) announced that it has signed a definitive agreement to acquire EvolutionIQ, the platform for AI-powered guidance for disability and injury claims management. EvolutionIQ’s founders and team will become part of the broader CCC team as part of the transaction. Subject to the terms and conditions included in the definitive agreement, CCC is expected to acquire EvolutionIQ for $730M to be paid for with a combination of approximately 40% CCCS common stock and 60% cash to be funded through cash on balance sheet and an additional $225M term loan. The transaction is expected to close in Q1 2025, subject to customary closing conditions.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CCCS:
