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 associate Kyrsten Keith.
For additional details on the acquisition, please read the press release.