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Squarespace Goes Private in $6.9B Deal with Permira, Stock Surges 12.9%

May 13, 2024, 11:23 AM

Squarespace, Inc. is set to go private through a $6.9 billion all-cash transaction with the private equity firm Permira. The deal values Squarespace at $44 per share, representing a 15.2% premium over its last closing price. This acquisition is part of Permira's strategy to strengthen its portfolio in the technology sector. The transaction has caused a significant surge in Squarespace's stock, which soared 12.9% in pre-market trading following the announcement. Additionally, Squarespace's recent collaboration with Google Domains is expected to further enhance its service offerings.