Lowenstein Sandler represented EvolutionIQ, Inc., the leading platform for AI-powered guidance for disability and injury claims management, on its proposed acquisition by CCC Intelligent Solutions Inc., a leading cloud platform provider powering the property and casualty insurance economy and a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS).
The companies have reached a definitive agreement on the proposed acquisition for a purchase price of $730 million to be paid for with a combination of approximately 40 percent CCCS common stock and 60 percent cash. The acquisition will expand CCC’s market reach into strategic adjacencies and strengthens its industry leading AI-powered SaaS platform through the addition of transformative AI capabilities that will work to revolutionize how insurance claims are resolved.
The Lowenstein team included partners Anthony O. Pergola and Alex D. Leibowitz, along with Storme McKop, James O’Grady, and Brian A. Silikovitz, among other attorneys and professionals.
