NEW YORK—Activist investor Elliott Investment Management has built a stake in software company CCC Intelligent Solutions, according to people familiar with the matter, adding pressure on the Chicago-based firm as it explores strategic alternatives, including a possible sale.
The size of Elliott's investment could not immediately be determined. The hedge fund has been in discussions with the company about ways to enhance shareholder value, the sources said, speaking on condition of anonymity because the matter is confidential.
CCC declined to comment. Elliott also declined to comment.
The investment comes days after Reuters reported that CCC had hired Morgan Stanley to advise on a sale process and had contacted prospective buyers, including private equity firms. The company has not publicly confirmed that it is pursuing a transaction. Shares of CCC rose sharply after news of the sale process emerged.
CCC provides software and artificial intelligence-powered workflow tools used by auto insurers, collision repair shops, automakers and parts suppliers to manage accident claims, vehicle repairs and related processes. The company says its platform connects more than 35,000 businesses across the property-and-casualty insurance ecosystem.
The company has struggled with investor concerns over slowing growth, weaker industry claims volumes and slower-than-expected adoption of some newer software offerings. Its market value has fallen to roughly $3.3 billion from about $6.4 billion a year earlier, while its shares have declined significantly over the past 12 months.
Elliott is one of the world's most prominent activist investment firms and has a long history of pressing companies to improve operational performance, capital allocation and governance. In recent months, the firm has launched or expanded campaigns at several companies across technology and other sectors, often advocating strategic changes or transactions aimed at increasing shareholder returns.
CCC has previously explored strategic options. Reuters reported in 2023 that the company had considered a potential sale after attracting takeover interest, although no deal was completed. The company was acquired by private equity firm Advent International in 2017 and returned to public markets through a merger with a special purpose acquisition company in 2021. Advent fully exited its investment in 2025 through a series of secondary share offerings.
There was no indication on Saturday that Elliott had made any public demands of the company or that discussions between the investor and CCC had resulted in any agreement. The company's review of strategic alternatives remains ongoing, according to people familiar with the matter.
