CCC Intelligent Solutions Expands with Acquisition and Buyback
An announcement from CCC Intelligent Solutions Holdings ( (CCCS) ) is now available.
CCC Intelligent Solutions has announced the acquisition of EvolutionIQ, a leading AI platform for disability and injury claims management, for $730 million. This acquisition is expected to enhance CCC’s market position by integrating EvolutionIQ’s AI-driven claims resolution capabilities, broadening CCC’s SaaS offerings, and potentially transforming insurance claims processing, benefiting insurers and claimants alike. Additionally, CCC’s Board has approved a $300 million share repurchase program, highlighting confidence in the acquisition’s future benefits and commitment to shareholder returns.
More about CCC Intelligent Solutions Holdings
CCC Intelligent Solutions Inc., a subsidiary of CCC Intelligent Solutions Holdings Inc., is a leading cloud platform provider for the P&C insurance economy. It connects over 35,000 businesses through its AI-powered CCC Intelligent Experience Cloud platform, offering customized applications for insurers, repairers, automakers, and part suppliers. The company focuses on creating intelligent experiences by leveraging computer vision, natural language processing, and AI solutions.
YTD Price Performance: 5.79%
Average Trading Volume: 2,991,140
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $7.54B
See more data about CCCS stock on TipRanks’ Stock Analysis page.
