CCC Intelligent Solutions Holdings Inc. reports developments in its cloud SaaS and AI platform for the property and casualty insurance economy. Its technology supports digital workflows linking insurers, collision repairers, automakers, parts suppliers, and other participants across claims and vehicle repair processes.
Recurring updates include financial results and outlook, adoption of AI-based workflow tools, CCC ONE product capabilities such as mobile invoice scanning and consumer financing, and integrations within the CCC Diagnostics Network for scan, calibration, and repair-order documentation. Company news also includes industry data from Crash Course reports and governance or leadership changes.
Clarivate Plc has announced the acquisition of Techstreet by the International Society of Interdisciplinary Engineers LLC (ISIE), a newly formed for-profit subsidiary of the American Society of Mechanical Engineers (ASME). This strategic move aims to enhance the $1.5B standards ecosystem, projected to reach $1.6B by 2023. With Techstreet joining ASME, the partnership intends to leverage their combined expertise to innovate products and services for the engineering community, fostering further reputation and growth for Techstreet.
On November 2, 2020, Clarivate Plc (NYSE:CCC) announced a partnership with Techtrials Pesquisa e Tecnologia Ltda to expand its real-world data (RWD) offerings in Brazil, targeting 80% of the population. This three-year collaboration will allow customers to access the largest integrated RWD database in Brazil, encompassing over 195 million patients. The partnership aims to support various healthcare inquiries, including epidemiological and clinical outcomes, and is expected to enhance decision-making for life science companies given Brazil's growing pharmaceutical market.
Clarivate Plc (NYSE: CCC) announced the resignation of Michael S. Klein from its Board of Directors, effective immediately. Klein was a pivotal figure, having previously served as Chairman of Churchill Capital Corp, which merged with Clarivate in May 2019. Jerre Stead, CEO and Executive Chairman, expressed gratitude for Klein's contributions over the past years. Following his departure, the board will consist of 12 members. Clarivate continues to lead in providing innovative solutions to enhance the lifecycle of innovation, aiding clients in scientific and healthcare fields.
Clarivate Plc (NYSE:CCC) has launched the enhanced EndNote 20, a reference management tool aimed at improving the efficiency of researchers and students in managing bibliographies. The new version features a modern user interface, better search capabilities, and PDF editing functionalities. Enhanced collaboration is facilitated through integration with the Web of Science, allowing users to access citation metrics directly in EndNote. With support for over 7,000 bibliographic styles, EndNote 20 aims to streamline research workflows and reduce time spent on formatting.
Clarivate reported strong third-quarter 2020 results, with revenues of $284.4 million, marking a 17.0% increase year-over-year. Adjusted revenues reached $286.5 million, up 17.9%. Despite a net loss of $37.2 million or $(0.10) per share, adjusted net income rose to $58.5 million, driven by acquisitions. The company saw increased cash reserves of $601.1 million, but total debt rose to $1.95 billion. The results reflect organic growth in subscription revenues and the integration of recent acquisitions.
Clarivate Plc (NYSE: CCC) will host a Virtual Investor Day on November 10, 2020, from 10:00 AM to 1:00 PM Eastern Time. Management will provide an update on the company's business strategies and developments. Interested parties can join the event through a webcast available on the Clarivate Investor Relations website. A replay will also be available for later viewing. Clarivate is dedicated to accelerating innovation through trusted information and insights.
Clarivate (NYSE:CCC) announced the acquisition of Beijing Incopat Co., Ltd, enhancing its intellectual property solutions globally. This strategic move aims to improve customer service and deepen understanding in the Chinese market, vital for innovation. Clarivate's EVP, David Liu, emphasized the combined strengths will accelerate innovation across Asia and worldwide. IncoPat's CEO, He Jia, noted that joining forces will expand resources for Chinese clients, aiding their international growth. This collaboration aligns with a rising trend in IP filings in Asia, solidifying Clarivate's position in the innovation landscape.
Clarivate Plc (NYSE:CCC) released a report emphasizing the growing prevalence of research malpractice, posing a threat to scientific literature integrity. The report urges collaboration among stakeholders to establish ethical guidelines aimed at maintaining research integrity in a challenging environment. It identifies the rise in deviant publication practices and suggests leveraging technology and analytics for improvement. Key parties involved include researchers, journals, publishers, institutions, funders, and governments, all of whom have vested interests in preserving research quality.
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