Accenture has sold a 60% stake in Duck Creek, the insurance core systems vendor it acquired in 2011, to private equity firm Apax Partners.
Under the terms of the agreement, Duck Creek Technologies -- a change from its former name, Accenture Duck Creek -- will operate as an independent joint venture of Accenture and Apax. Accenture says the financial backing of the private equity firm Apax will allow Duck Creek more resources for its core mission, while allowing Accenture to focus on more horizontal projects.
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