Education information technology specialist Instructure Inc. (INST) announced on Wednesday, Dec. 4, that it had agreed to be acquired by Thoma Bravo LLC following a strategic review.
The Chicago-based private equity firm will pay $47.60 per share in cash, or an 18% premium over the Salt Lake City company’s three-month average trading price as of Oct. 27. The company announced a review on Oct. 28 for its bridge business.
The acquisition, which includes a 35-day go-shop period, also comes after The Deal named Instructure a target in January.
Editor’s note: The original version of this article, including advisers and other details, was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.
If you’re already a subscriber, log in to view this article here.