GTCR and Elliott in advanced talks to buy CCC, Bloomberg reports

CCC Intelligent Solutions, the Chicago-based software provider serving auto insurers and vehicle repair businesses, was in advanced acquisition talks with GTCR and Elliott Investment Management on October 9, according to Bloomberg News reporting relayed by Reuters. Reuters said CCC shares rose about 11% in extended trading as the report pointed to a possible change of ownership.

An announcement could come as soon as the following week, the account said, citing people familiar with the matter. But no final agreement had been reached, and the report disclosed no purchase price or other financial terms. That possible announcement window was not a timetable for completing an acquisition.

Reuters said CCC, private-equity firm GTCR and activist investor Elliott did not immediately respond to its requests for comment. The advanced-talks account remains attributed to Bloomberg; the Reuters dispatch did not present it as independently confirmed negotiations.

CCC sale exploration began months earlier

The latest report follows a sale process described in separate Reuters reporting in July. On July 9, Reuters reported, citing three people familiar with the matter, that CCC was exploring a sale. Those sources said the company had engaged Morgan Stanley as an adviser and approached potential buyers, including private-equity firms.

The July Reuters report put CCC’s market value at roughly $3.3 billion, compared with about $6.4 billion a year earlier, and said its shares had fallen about 44% over the preceding 12 months. Those figures describe the company’s position in July; they are neither an October valuation nor an indication of the price the prospective buyers might pay.

Reuters linked investor concerns in July to slower growth, weaker claims volumes and slower-than-expected uptake of newer products. That account provides context for the earlier sale exploration, but does not establish GTCR’s or Elliott’s reasons for pursuing the company.

CCC’s insurance software business and quarterly results

CCC supplies software used in accident claims, vehicle repairs and associated work. Its customers include auto insurers, collision repair shops, automakers and parts suppliers. In its July financial disclosure, CCC said its platform connected more than 35,000 businesses, describing the reach of the network that would be part of any acquisition.

In its second-quarter results released on July 30, CCC reported revenue of $285.9 million for the three months ended June 30, up 9.8% from $260.5 million a year earlier. These are reported operating results preceding the October talks, rather than a new trading update accompanying them.

Quarterly net income under generally accepted accounting principles was $20.8 million, compared with $13.0 million a year earlier. CCC also reported adjusted EBITDA of $115.5 million, an increase of 6.8%. The company identifies adjusted EBITDA as a non-GAAP measure; it is distinct from the reported net-income figure.

At June 30, CCC reported $115.9 million in cash and equivalents and $1.27 billion in total debt. Its July 30 outlook projected full-year 2026 revenue of $1.158 billion to $1.164 billion and adjusted EBITDA of $485 million to $491 million. Those ranges were management forecasts, not achieved annual results or updated October guidance.

CCC also said two top-five insurers expanded their adoption of its AI claims-routing technology during the quarter, without identifying them. Chairman and chief executive Githesh Ramamurthy said in July: “We continue to see customers deploy AI operationally and at scale to solve real business problems.” His remarks accompanied the results and were not a response to the acquisition report.

Ownership history and what remains unknown

CCC has previously been owned by a private-equity investor. According to Reuters, Advent International acquired the company in 2017 and took it public through a merger with a special-purpose acquisition company in 2021. Advent exited its investment through secondary share offerings in 2025.

The October report leaves key transaction questions unanswered: a price, financing arrangements, the prospective buyers’ ownership split, any required approvals and a closing timetable. It also establishes no changes for CCC employees or customers. For now, the reported development is advanced negotiations, with a possible announcement still conditional on reaching an agreement.