Permira agreed to take Squarespace private less than three years after it first went public in 2021.
Major shareholders Accel and General Atlantic, as well as CEO Anthony Casalena, have approved the deal, which is being financed with help from Ares and Blackstone.Permira agreed to pay $44 per share in cash, a roughly 30% premium to Squarespace's unaffected share price. In recent years, Squarespace struggled to capture public-market support: It opened below its $50 reference price in 2021 and never again traded above its $48 open price.
Squarespace competes with Wix and Shopify for a slice of the website-builder and e-commerce marketplace. Shares rose nearly 13% to $43 per-share in pre-market trading. Permira will finance the deal with the help of Ares Capital,
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Software company Squarespace being taken private by Permira in $6.9 billion dealSoftware 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.
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