Shares in UserTesting Inc jumped by more than 92% to $7.42 after Thoma Bravo and Sunstone Partners revealed plans to take the customer feedback platform private in an all-cash $7.50 per share deal worth about $1.3 billion, according to a report by Reuters.
The report cites a statement from Thoma Bravo and Sunstone as revealing that if the deal proceeds UserTesting will be merged with another user-experience insights platform, UserZoom, which was acquired by Thoma Bravo in April.
According to a regulatory filling the transaction will be funded entirely by cash provided by Thoma Bravo and Sunstone without any additional debt. The proposed deal includes a “go-shop” period which expires on 10 December, during which USerTesting is free to solicit and consider alternatuve acquisition proposals.
Read more: Private Equity Wire
