An announcement from CCC Intelligent Solutions Holdings ( (CCCS) ) is now available.
CCC Intelligent Solutions has announced the acquisition of EvolutionIQ, a leading company AI a platform for managing disability and injury claims, for $730 million. This acquisition is expected to enhance CSC's market position by integrating EvolutionIQ's AI-driven claims resolution capabilities, expanding CSC's SaaS offerings, and potentially transforming insurance claims processing, which will benefit insurers and claimants alike. In addition, the CCC Board has approved a $300 million share repurchase program, demonstrating confidence in the future benefits of the acquisition and commitment to shareholder returns.
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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 parts 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 Opinion Consensus Rating: Selling
Current market cap: $7.54B
See more data about CCCS stock on TipRanks Stock Analysis Page.