PowerSchool To Be Bought By Bain Capital For $5.6 Bln

(RTTNews) - PowerSchool Holdings, Inc. (PWSC), a provider of cloud-based software for K-12 education, said on Friday that it has inked a deal to be acquired by Bain Capital, LP for $5.6 billion.

Under the terms, PowerSchool shareholders will receive $22.80 per share in cash, which represents a premium of 37 percent over PowerSchool's unaffected share price of $16.64 as of May 7.

Hardeep Gulati, CEO of PowerSchool, said: "With Bain Capital's support, PowerSchool will have access to additional resources and the flexibility to deliver even more growth and innovation, particularly with PowerBuddy, our generative AI platform, and scale our global reach in helping schools personalize education for every student journey."

Upon completion of the transaction, scheduled to be closed in the second half, PowerSchool will run as a privately held firm and shares will no longer be publicly listed on the NYSE.

Post transaction, Vista Equity Partners and Onex Partners will continue to have minority investments in PowerSchool.