EngageSmart Reports Absence Of Alternative Acquisition Proposals During 'Go-Shop' Period

(RTTNews) - EngageSmart Inc. (ESMT) announced the expiration of the 30-day "go-shop" period under the terms of merger agreement, pursuant to which an affiliate of Vista Equity Partners will acquire EngageSmart for $23.00 per share in cash. The "go-shop" period expired on November 22, 2023.

EngageSmart noted that it did not receive any alternative acquisition proposals from any third party during the "go-shop" period.

The transaction is expected to close in the first quarter of 2024.

Upon completion of the transaction, EngageSmart will become a privately held company, affiliates of Vista will hold approximately 65% of the outstanding equity, and affiliates of General Atlantic, an investor, will hold approximately 35% of the outstanding equity.