UPDATE 1-Insurance IT firm CCC Information to go public via $7-bln SPAC deal

Reuters

Feb 03, 2021

(Adds transaction details, advisers)

Feb 3 (Reuters) - CCC Information Services said on Wednesday it was going public through a merger with blank-check firm Dragoneer Growth Opportunities Corp , in a deal valuing the data and technology provider to automotive and insurance companies at about $7 billion.

The deal is expected to fetch CCC Information $968 million in proceeds, including a $150 million private investment from Fidelity Investments, T. Rowe Price and others.

A special purpose acquisition company (SPAC), also known as a blank-check company, gained popularity as an alternative route to public markets last year, for companies seeking to avoid a traditional initial public offering.

Earlier on Monday, Israeli EV startup REE Automotive and online payment startup Payoneer also announced mergers with blank-check companies.

Dragoneer Growth Corp went public in a $600 million IPO last year.

Evercore Group was the financial adviser to CCC.

The combined company will be renamed to CCC Intelligent Solutions Holdings Inc and listed on the New York Stock Exchange.

(Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli)

((Niket.Nishant@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2108697487"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2108697487\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2108697487?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-02-03 21:33","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2108697487","market":"us","top_or_hot":-1,"title":"UPDATE 1-Insurance IT firm CCC Information to go public via $7-bln SPAC deal","media":"Reuters","content":"<html><body><p>(Adds transaction details, advisers)</p><p>   Feb 3 (Reuters) - CCC Information Services said on Wednesday it was going public through a merger with blank-check firm <a href=\"https://laohu8.com/S/DGNR\">Dragoneer Growth Opportunities Corp</a>   , in a deal valuing the data and technology provider to automotive and insurance companies at about $7 billion. </p><p>   The deal is expected to fetch CCC Information $968 million in proceeds, including a $150 million private investment from Fidelity Investments, T. Rowe Price and others.</p><p>   A special purpose acquisition company (SPAC), also known as a blank-check company, gained popularity as an alternative route to public markets last year, for companies seeking to avoid a traditional initial public offering.</p><p>   Earlier on Monday, Israeli EV startup REE Automotive and online payment startup Payoneer also announced mergers with blank-check companies.</p><p>   Dragoneer Growth Corp went public in a $600 million IPO last year.</p><p>   Evercore Group was the financial adviser to CCC.</p><p>   The combined company will be renamed to CCC Intelligent Solutions Holdings Inc and listed on the New York Stock Exchange.</p><p> (Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli)</p><p>((Niket.Nishant@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UPDATE 1-Insurance IT firm CCC Information to go public via $7-bln SPAC deal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUPDATE 1-Insurance IT firm CCC Information to go public via $7-bln SPAC deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-02-03 21:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>(Adds transaction details, advisers)</p><p>   Feb 3 (Reuters) - CCC Information Services said on Wednesday it was going public through a merger with blank-check firm <a href=\"https://laohu8.com/S/DGNR\">Dragoneer Growth Opportunities Corp</a>   , in a deal valuing the data and technology provider to automotive and insurance companies at about $7 billion. </p><p>   The deal is expected to fetch CCC Information $968 million in proceeds, including a $150 million private investment from Fidelity Investments, T. Rowe Price and others.</p><p>   A special purpose acquisition company (SPAC), also known as a blank-check company, gained popularity as an alternative route to public markets last year, for companies seeking to avoid a traditional initial public offering.</p><p>   Earlier on Monday, Israeli EV startup REE Automotive and online payment startup Payoneer also announced mergers with blank-check companies.</p><p>   Dragoneer Growth Corp went public in a $600 million IPO last year.</p><p>   Evercore Group was the financial adviser to CCC.</p><p>   The combined company will be renamed to CCC Intelligent Solutions Holdings Inc and listed on the New York Stock Exchange.</p><p> (Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli)</p><p>((Niket.Nishant@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2108697487","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2108697487","pubTimestamp":1612359233,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"(Adds transaction details, advisers)   Feb 3 (Reuters) - CCC Information Services said on Wednesday ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"更新1-保险IT公司CCC信息通过700万美元SPAC交易上市","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DGNR":0.9},"content_text":"(Adds transaction details, advisers)   Feb 3 (Reuters) - CCC Information Services said on Wednesday it was going public through a merger with blank-check firm Dragoneer Growth Opportunities Corp   , in a deal valuing the data and technology provider to automotive and insurance companies at about $7 billion.    The deal is expected to fetch CCC Information $968 million in proceeds, including a $150 million private investment from Fidelity Investments, T. Rowe Price and others.   A special purpose acquisition company (SPAC), also known as a blank-check company, gained popularity as an alternative route to public markets last year, for companies seeking to avoid a traditional initial public offering.   Earlier on Monday, Israeli EV startup REE Automotive and online payment startup Payoneer also announced mergers with blank-check companies.   Dragoneer Growth Corp went public in a $600 million IPO last year.   Evercore Group was the financial adviser to CCC.   The combined company will be renamed to CCC Intelligent Solutions Holdings Inc and listed on the New York Stock Exchange. (Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli)((Niket.Nishant@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}