Cyence to be Acquired by Guidewire Software

On October 6, 2017, Guidewire Software, which provides of software products to property and casualty insurers, announced that it will acquire Cyence, a data science and risk analytics company, for approximately $275 million in total consideration. Wilson Sonsini Goodrich & Rosati is advising Cyence in the transaction.

According to a press release, the total consideration for the acquisition includes $265 million net of $10 million cash on hand, subject to customary transaction adjustments. 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 those shares, approximately 260,000 are in the form of deferred equity consideration, which are subject to the achievement of certain retention and operating milestones.

The transaction is expected to close early in Guidewire's second fiscal quarter, subject to customary closing conditions.

The WSGR team representing Cyence in the transaction includes:

M&A:
Denny Kwon, Partner
Brendan Mahan, Associate
Emma Sarkisyan, Associate
Jacob Werrett, Associate

Corporate:
Raj Judge, Partner
Mark Baudler, Partner
Melinda Douglass, Of Counsel

Employee Benefits & Compensation:
Sriram Krishnamurthy, Partner
Mark Cornillez-Ty, Associate
Matthew Norgard, Associate

Technology Transactions:
Selwyn Goldberg, Partner
Tracy Rubin, Associate
Brandon Palmen, Associate

Tax:
Myra Sutanto Shen, Partner
Timothy Shapiro, Associate

Employment Law:
Briza Sanchez, Associate

For additional information, click here to read the companies' joint press release.