The Technology team advised Guidewire Software, Inc. on its acquisition of Cyence, Inc. Total consideration for the acquisition is approximately $275 million, or $265 million net of $10 million cash on hand, subject to customary transaction adjustments. The transaction closed on November 1.
Guidewire delivers the software that property and casualty (P&C) insurers need to adapt and succeed in a time of rapid industry change.
Cyence is a software company that applies data science and risk analytics to enable P&C insurers to grow by underwriting “21st century risks” that have gone underinsured or uninsured.
The Goodwin team was led by partner Michael Russell; and associates Matthew McCoy, Sean Montgomery, and Kyrsten Keith.
For additional details on the acquisition, please read the press release.