Channel NewsAsia
AsiaPac · 41 mins ago
Exclusive-Software firm CCC explores sale, sources say
NEW YORK, July 9 : CCC Intelligent Solutions is exploring a sale of the company, according to three people familiar with the matter.The Chicago-based company, which provides software and AI-powered workflow tools, has hired Morgan Stanley to advise on a sale process and has reached out to prospective buyers, including private equity firms, the sources said. CCC and Morgan Stanley did not immediately respond to Reuters' requests for comment.CCC provides software used by auto insurers, collision repair shops, automakers and parts suppliers to manage accident claims, vehicle repairs and related workflows. The company says its platform connects more than 35,000 businesses across the property-and-casualty insurance ecosystem. The company's market value has fallen to roughly $3.3 billion from ab
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