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Software company Squarespace being taken private by Permira in $6.9 billion deal

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Software 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.

FILE - A banner for Squarespace hangs at the New York Stock Exchange, Wednesday, May 19, 2021. A special committee of the Squarespace board of directors unanimously approved and recommended the deal, which was then unanimously approved by the board. Squarespace Inc. shareholders will receive $44 per share for each share they own. The company, which helps entrepreneus build brands and businesses online, went public in a direct listing two years ago at $50 per share.

A special committee of the Squarespace board of directors unanimously approved and recommended the deal, which was then unanimously approved by the board.Casalena and long-term investors General Atlantic and Accel, which make up about 90% of the Squarespace’s voting shares, have agreed to vote in favor of the transaction.

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