Private-equity firms Thoma Bravo and Sunstone Partners will acquire UserTesting Inc in an all-cash deal that values it at about $1.3bn, the customer feedback platform said on Thursday.
Shares in the company, which collects video-based customer experience insights for consumer-facing companies, skyrocketed 92% to $7.42 in premarket trade, close to the offer price of $7.50 per share.
The PE firms plan to combine the company with UserZoom, a user-experience insights platform, in which Thoma Bravo acquired majority control in April. UserTesting Chief Executive Andy MacMillan will lead the combined company.
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PE firms have taken several companies private over the past year, following a drop in valuations of public tech companies amid a broader equities selloff, triggered by an economic downturn.
Thoma Bravo this year also acquired cybersecurity firms SailPoint and Ping Identity, and cloud software company Anaplan.
The agreement includes a “go-shop” period expiring on Dec. 10, which allows San Francisco, California-based UserTesting to solicit and consider acquisition proposals from third parties.
Source: Reuters
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