Major shareholders Accel and General Atlantic, as well as CEO Anthony Casalena, have approved the deal, which is being financed with help from Ares and Blackstone.Permira agreed to pay $44 per share in cash, a roughly 30% premium to Squarespace's unaffected share price. In recent years, Squarespace struggled to capture public-market support: It opened below its $50 reference price in 2021 and never again traded above its $48 open price.
Squarespace competes with Wix and Shopify for a slice of the website-builder and e-commerce marketplace. Shares rose nearly 13% to $43 per-share in pre-market trading. Permira will finance the deal with the help of Ares Capital,
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Software company Squarespace being taken private by Permira in $6.9 billion dealSoftware company Squarespace is being taken private in an approximately $6.9 billion all-cash deal with private equity firm Permira. Squarespace shareholders will receive $44 per share for each share they own.
Source: AP - 🏆 728. / 51 Read more »
Squarespace to go private in $7 billion private-equity dealPermira agreed to take Squarespace private less than three years after it first went public in 2021.
Source: nbcchicago - 🏆 545. / 51 Read more »
Upcoming Christmas Movie Finally Unites Spielberg & Scorsese (But There's A Big Catch)Martin Scorsese looking out his car window in Squarespace&39;s Hello Down There ad
Source: screenrant - 🏆 7. / 94 Read more »
Software stock forming a 'big base breakout' that heralds more gains ahead, according to the chartsDavid Keller breaks down the pattern forming in Squarespace.
Source: CNBC - 🏆 12. / 72 Read more »
PG&E hit with $225-million lawsuit for 2021 Dixie fire damagesA coalition of timber businesses filed a lawsuit on Wednesday against the embattled Pacific Gas & Electric Co., alleging $225 million in damages caused by the 2021 Dixie Fire.
Source: latimes - 🏆 11. / 82 Read more »
Goldman Sachs Expects Stronger Results in 2021Analysts predict that Goldman Sachs will report earnings per share of $8.56 and revenue of $12.92 billion. The company posted better-than-expected trading results and a rebound in investment banking fees in the first quarter. Goldman's focus on its asset and wealth management division is expected to drive growth.
Source: NBCDFW - 🏆 288. / 63 Read more »