Private equity firm GTCR and Elliott Investment Management have agreed to acquire automotive insurance software provider CCC Intelligent Solutions Holdings in a $4.6bn take-private transaction, according to a report by Bloomberg.

The deal values CCC at approximately $6.1bn including debt, with shareholders set to receive $7.75 per share in cash, representing a 44% premium to the company's closing share price on 9 July, before reports of a potential sale emerged.

The transaction, which remains subject to regulatory approval, is expected to close in the first quarter of 2027.

CCC provides software used by automotive insurers and repair businesses to manage claims and vehicle repairs. The company went public in 2021 through a merger with a special purpose acquisition company at a valuation of approximately $7bn.

The acquisition marks a return to private ownership for CCC, which was previously acquired by Advent International in 2017. Advent sold its remaining stake in the business in 2025.

Elliott, which built a stake in CCC earlier this year, pursued the acquisition through its private equity investment arm. The activist investment firm has previously participated in buyouts including Cloud Software Group, Syneos Health, Nielsen Holdings and Barnes & Noble.

The transaction also represents a significant software buyout following a period of declining sector valuations amid investor concerns over the potential impact of artificial intelligence on established software business models.

Githesh Ramamurthy, chairman and CEO of CCC, said the backing of GTCR and Elliott would enable the company to accelerate the development of its AI capabilities and expand its platform.

Mark Anderson, GTCR's head of technology, media and telecommunications, said the firm had followed CCC for several years and sees opportunities to support its next phase of growth as customers adopt AI-driven solutions.

Bloomberg previously reported that vehicle auction specialist Copart and several private equity firms had also explored acquiring CCC.

Morgan Stanley advised CCC on the transaction, while JPMorgan served as lead financial adviser to GTCR, alongside Citigroup.