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Core Specialty Partners with Duck Creek Technologies for Increased Speed to Market and Operational Efficiency Boston, Feb. 24, 2021, the provider s SaaS platform for the P&C insurance industry. With its sights set on becoming the leading specialty insurer, Core Specialty is moving swiftly toward its goal with a unified set of powerful SaaS solutions while intensifying its focus on product innovation and distribution via the nation s largest specialty line brokerages. Core Specialty sought a next-generation technology platform capable of delivering unmatched operational efficiency, harnessing data from myriad sources, and empowering distribution partners with best-in-class ease of doing business. Duck Creek s Professional Servicesarm is handling the implementation of all solutions, as well as developing a proprietary API-based connectionto the broker ecosystem Core Specialty is cultivating. ....
2 months ago Transaction includes $150 million of fully committed common stock PIPE with participation by Fidelity Investments, funds and accounts advised by T. Rowe Price Associates, Inc. and other investors, in addition to $175 million forward purchase agreement from Dragoneer funds and Michael Bloomberg’s family office, Willett Advisors $968 million of expected net proceeds from transaction will be used to invest in CCC’s growth initiatives and for general corporate purposes Advent International will remain the majority shareholder and be closely aligned with Dragoneer and public shareholders at transaction close Company expected to be listed on the NYSE upon completion of the combination in the second quarter of 2021 ....
REUTERS/Lucas Jackson This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Special-purpose acquisition companies aka blank-check companies are having a moment on Wall Street. The investment vehicles raised more than $80 billion in 2020, more than five-times last year s total of $14 billion. SPACs have recently attracted bold-faced names such as hedge-fund titan Bill Ackman, LinkedIn founder Reid Hoffman, Silicon Valley power player Dragoneer Investment Group, and Moneyball star Billy Beane. But there s an ecosystem of advisors, salespeople, and lawyers pitching blank-check companies to investment platforms and wealthy people as viable financing options. We spoke with more than a dozen industry insiders to come up with a list of the market s most influential players. ....