Oct 9 (Reuters) – Private equity firm GTCR and activist investor Elliott Investment Management are in advanced talks to acquire software provider CCC Intelligent Solutions, a source familiar with the matter said on Friday.
Shares of the company, which provides software that helps auto insurers, repair shops, automakers and parts suppliers manage operations, rose about 13% in extended trading after Bloomberg News first reported the news.
• A deal could be announced as soon as next week but a final agreement had not been reached, the source said, without disclosing financial details
• CCC and GTCR did not immediately respond to Reuters’ requests for comment, while Elliott declined to comment
• Bloomberg News had reported in August that online vehicle auctioneer Copart was in talks to acquire CCC
• In July, Reuters had reported that CCC was exploring a sale and that the Chicago-based company had hired Morgan Stanley to advise on the process and reached out to potential buyers, including private equity firms
• Advent International, which acquired CCC in 2017 and took the company public through a merger with a special-purpose acquisition company in 2021, exited its investment in 2025 through a series of secondary share offerings, including the sale of its remaining stake
(Reporting by Apratim Sarkar in Bengaluru, Milana Vinn in New York; additional reporting by Carlos Mendez; Editing by Diti Pujara)
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