Friday, October 6, 2017

Guidewire Buys Cyence For $275M

Foster City-based Guidewire Software, which provides software to the property and casualty insurance market, announced this morning that it has acquired San Mateo-based a href="http://www.cyence.com">Cyence, a developer of cloud-based risk analytics software. Guidewire said it payed $275M for Cyence, or net $265M when accounting for Cyence's $10M of cash on hand. Guidewire said the deal is split between $140M in cash and approximately 1.6 million shares of its common stock. Guidewire is led by co-founder and CEO Marcus Ryu.