Firstmark has sold Duck Creek to Accenture
Client: FirstMark Capital, LLC
Client Location: United States
Target: Duck Creek Technologies, Inc.
Target Location: United States
Acquirer: Accenture Plc
Acquirer Location: Ireland
Target Description: Duck Creek provides software solutions for insurance companies.
Our Perspective
Mark Yurko, Managing Director at Lincoln, commented, “We focused on optimizing the positioning of Duck Creek’s services revenue, not typically a key-value driver in software transactions, as a unique opportunity for service providers with an insurance practice such as Accenture to significantly drive incremental higher-margin services beyond the core implementation work Duck Creek delivered.”
“The Duck Creek transaction is the poster child for our ability to connect the dots between the needs of our key contacts at public information technology (IT) leaders and best-in-class private software vendors,” stated Clark Spurrier, Managing Director at Lincoln. “Accenture highlighted to us a focus on improving its P&C Insurance Claims Management platform, and we were able to respond by introducing them to the leading independent policy administration player.”
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