Private equity firm Apax Partners LLP is acquiring Agencyport, a software provider to the property and casualty insurance industry, while it forms a previously announced insurance software joint venture with Accenture (NYSE: ACN).

The closing on the Agencyport deal and the formation of the joint venture, Duck Creek Technologies, are expected by the end of August. Duck Creek Technologies is also the name of the Accenture company that is being used to form the new venture, with London-based Apax acquiring 60 percent and Accenture retaining 40 percent. Duck Creek, based in Bolivar, Missouri, offers both on-premises and cloud-based property and casualty insurance software and services.

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