SurveyMonkey owner Momentive Globa on Monday said it would be acquired by a consortium led by private equity firm Symphony Technology Group in an all-cash deal that values the company at about $1.5bn.
Shares in the San Mateo, California-based firm, which controls the popular survey platform, jumped 18.5% to $9.15 in extended trading.
Under the terms of the deal, Momentive shareholders will get $9.46 for each share owned, representing a premium of about 46% to the stock’s last close before media reports of a potential sale emerged in October.
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The deal, which is expected to close in the second or third quarter of 2023, comes after software services company Zendesk proposed to buy Momentive for nearly $4 billion in an all-stock deal in 2021, but later refused due to opposition from shareholders.
Source: Reuters
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