Guidewire Software acquired Cyence, Inc. for approximately $260.3 million aggregate consideration (approximately $146.6 million cash plus approximately $113.7 million in newly issued Guidewire common stock and options, net of certain adjustments), a transaction completed in November 2017, structured as combination.
Cyence, Inc. operates in Data and analytics / cyber and emerging-risk analytics, is based in San Mateo, California, USA. Cyence is a software company that applies data science and risk analytics to enable P&C insurers to grow by underwriting "21st century risks" such as cyber, reputation, and new forms of business interruption risk that have gone underinsured or uninsured. Its data listening and risk analytics solution combines internet-scale collection and curation of external data with machine learning and risk modeling.
Cyence applies expertise in data science and machine learning to the modeling needs of insurance product design, pricing, and underwriting for emerging risks, complementing Guidewire's core operations, data management, and digital engagement footprint.
Internet-scale data listening and machine-learning risk models extend Guidewire's analytics into fast-growing cyber and emerging-risk lines that traditional underwriting data cannot price. Integrated into Guidewire's Data and Analytics product family.
Cyence is an exceptional technology company that, like Guidewire, focuses on serving the strategic needs of the P&C industry. While Guidewire has focused on core operations, data management, and digital engagement, Cyence applies expertise in data science and machine learning to the modeling needs of insurance product design, pricing, and underwriting.Marcus Ryu, Co-Founder and CEO, Guidewire Software
Advisory firms were not disclosed for this transaction.