Will merge with a special purpose acquisition company formed by Dragoneer Investment Group that places an approximately $7 billion value on the company.
CCC Information Services Inc. and Dragoneer Growth Opportunities Corp. (NYSE: DGNR), a special purpose acquisition company (SPAC) formed by an affiliate of Dragoneer Investment Group, announced a merger agreement between Dragoneer and CCC’s parent holding company. Upon closing of the transaction, the combined company is expected to be renamed CCC Intelligent Solutions Holdings Inc. and is expected to be listed on the New York Stock Exchange.
SPACs are a type of blank check company created to pool
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