Squarespace, a website design platform, announced on Monday that it will be taken private by private equity company Permira in an all-cash deal valued at roughly $6.9 billion.
Premarket trading saw a nearly 12% increase in the company’s shares, which assist people and businesses in designing and developing websites and e-commerce platforms.
At $44 per share, Permira’s offer price is 15.2% higher than the stock’s Friday closing price. Squarespace claims that the bid amount puts the company at over $6.6 billion. Squarespace debuted on the market in May 2021 and was valued at $6.5 billion.
Source (CNBC)
