Guidewire To Acquire Cyence - Quick Facts

(RTTNews) - Guidewire Software, Inc. (GWRE) announced a definitive agreement to acquire Cyence, a software company that applies data science and risk analytics to enable P&C insurers to grow by underwriting "21st century risks" that have gone underinsured or uninsured. Total consideration for the acquisition is approximately $275 million, or $265 million net of $10 million cash on hand.

The company noted that consideration provided at closing will consist of net cash of approximately $140 million and approximately 1.6 million shares of newly issued Guidewire common stock. Of these shares, approximately 260,000 are in the form of deferred equity consideration, which are subject to the achievement of certain retention and operating milestones.