Instructure to be Acquired by KKR for $4.8 Billion — from prnewswire.com
SALT LAKE CITY, July 25, 2024 /PRNewswire/ — Instructure Holdings, Inc. (NYSE: INST) (“Instructure”), a leading learning ecosystem, today announced that it has entered into a definitive agreement to be acquired by investment funds managed by KKR, a leading global investment firm, for $23.60 per share in an all-cash transaction valued at an enterprise value of approximately $4.8 billion. The per-share purchase price represents a premium of 16 percent over Instructure’s unaffected share price of $20.27 as of May 17, 2024, the last trading day prior to media reports regarding a potential transaction. KKR, with participation from Dragoneer Investment Group, will acquire all outstanding shares, including those shares owned by Instructure’s existing majority owner, Thoma Bravo, a leading software investment firm, which took the company public in 2021.
Speaking of edtech-related vendors, also see:
- Breaking: 2U files for Chapter 11 Bankruptcy in Prepackaged Deal — from onedtech.philhillaa.com by Phil Hill
Agreements are already in place, and the company may emerge from bankruptcy as soon as September