CCC acquires EvolutionIQ for $730M; announces $300M share repurchase program

CCC Intelligent Solutions Holdings Inc.

Total consideration of $730M: ~59.5% cash and ~40.5% CCCS common stock; cash portion funded by balance sheet and a $225M term loan.
EvolutionIQ provides AI-powered claims guidance for disability and workers' compensation insurers; expected to close in Q1 2025.
HSR waiting period has expired and EvolutionIQ stockholder approval obtained; other customary closing conditions remain.
CCC board authorized up to $300M in share repurchases under a new program; repurchases to be funded from available liquidity and free cash flow.

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