GTCR, Elliott in advanced talks to buy CCC Intelligent Solutions, source says (updated)
UPDATE 3-GTCR, Elliott in advanced talks to buy CCC Intelligent Solutions, source says Changes sourcing throughout, updates shares in paragraph 2
Oct 9 (Reuters) - Private equity firm GTCR and activist investor Elliott Investment Management are in advanced talks to acquire software provider CCC Intelligent Solutions CCC.O, a source familiar with the matter said on Friday.
Shares of the company, which provides software that helps auto insurers, repair shops, automakers and parts suppliers manage operations, rose about 13% in extended trading after Bloomberg News first reported the news.
A deal could be announced as soon as next week but a final agreement had not been reached, the source said, without disclosing financial details
CCC and GTCR did not immediately respond to Reuters' requests for comment, while Elliott declined to comment
Bloomberg News had reported in August that online vehicle auctioneer Copart CPRT.O was in talks to acquire CCC
In July, Reuters had reported that CCC was exploring a sale and that the Chicago-based company had hired Morgan Stanley to advise on the process and reached out to potential buyers, including private equity firms
Advent International, which acquired CCC in 2017 and took the company public through a merger with a special-purpose acquisition company in 2021, exited its investment in 2025 through a series of secondary share offerings, including the sale of its remaining stake
(Reporting by Apratim Sarkar in Bengaluru, Milana Vinn in New York; additional reporting by Carlos Mendez; Editing by Diti Pujara)
((Apratim.Sarkar@thomsonreuters.com;))