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Squarespace to Be Acquired By Permira For $6.9 Billion

Squarespace (NYSE:SQSP) shares surged more than 13% intra-day today after the company announced that it is set to be acquired by the private equity firm Permira in an all-cash transaction valued at approximately $6.9 billion. Under the terms of the deal, Squarespace stockholders will receive $44 per share.
Founder and CEO Anthony Casalena will retain a significant equity stake and continue his leadership role as Chief Executive Officer. He will also serve as the Board Chairman, leading the company alongside the current leadership team, who are expected to remain in their roles post-transaction.
The transaction is slated to be completed by the fourth quarter of 2024, at which point Squarespace will become a privately-held company.

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