Start-up financial technology investors, beaten down especially hard by the bear market, are getting some reprieve — but perhaps not in the way they hoped for. In the latest indication that stocks are trading for fantastic long-term values, private equity firms are going shopping and cashing shareholders out.
Software technology investor Vista Equity Partners is the latest to announce an acquisition: Duck Creek Technology (DCT), a provider of software for the property and casualty (P&C) insurance industry. Lessons abound in this deal for investors trying to get ready for the next (eventual) bull market.
A fintech company on the cusp of positive cash generation
Duck Creek offers a suite of cloud software tools (data and apps housed in a remote data center, accessed via the internet) for insurance companies. Solutions include customer relationship management, record keeping, and insurance policy updates. What does Vista Equity Partners want with Duck Creek?
Monti Saroya, the Senior Managing Director and Co-Head of Vista’s Flagship Fund, said in a prepared statement that…