Activist investor Elliott builds stake in software firm CCC, Bloomberg News reports
July 10 (Reuters) - Activist investor Elliott Investment Management has built a large stake in CCC Intelligent Solutions, Bloomberg News reported on Friday, as the software firm explores a sale. Chicago-based CCC has hired Morgan Stanley to advise on. . .
July 10 (Reuters) – Activist investor Elliott Investment Management has built a large stake in CCC Intelligent Solutions, Bloomberg News reported on Friday, as the software firm explores a sale. Chicago-based CCC has hired Morgan Stanley to advise on the sale process, Reuters exclusively reported on Thursday. The exact size of Elliott’s holding could not immediately be learned, but the activist firm acquired the position before CCC decided to explore a sale, Bloomberg reported, citing people familiar with the matter. The engagement is being led by Elliott’s private equity unit, the report added. Both Elliott and CCC did not immediately respond to Reuters’ requests for comment. CCC provides cloud-based software used by auto insurers, collision repair shops, automakers, and parts suppliers to manage accident claims and repair workflows. The company’s market value has fallen to about $3. 3 billion from roughly $6. 4 billion a year ago, as investors grew concerned about slowing growth, weaker industry claims volumes and slower-than-expected adoption of some newer software products. Activist investors pushed global companies more aggressively in the second quarter to make changes and lifted the overall pace of campaigns in the first half of 2026, Barclays data showed, as their biggest demand was for businesses to sell themselves in a rebounding deal market. (Reporting by Juby Babu in Mexico City; Editing by Maju Samuel)