CCC Intelligent Solutions, a provider of software and AI-powered workflow tools, is exploring a sale of the company, according to three people familiar with the matter.
The Chicago-based company 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 requests for comment.
Shares rose 13% to $6.09 in after-hours trading following the Reuters report on it exploring a sale.
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 about $6.4 billion a year ago as investors grew concerned about slowing growth, weaker industry claims volumes and slower-than-expected adoption of some of its newer software products. The company’s shares have declined about 44% over the past 12 months.
CCC has explored a sale previously. Reuters reported in 2023 that the company was considering strategic options, including a potential sale after attracting takeover interest, though no transaction materialized.
Advent International, which acquired CCC in 2017 and took it public through a merger with a special purpose acquisition company in 2021, fully exited its investment in 2025 through a series of secondary share offerings, including the sale of its remaining stake in November.
Source: Reuters.com