NEW YORK — Bain Capital has reached an agreement to acquire PowerSchool Holdings Inc., a provider of cloud-based software for K-12 education, in a transaction valued at $5.6 billion, the companies announced in a statement on Friday.
The acquisition will see PowerSchool shareholders receive $22.80 per share, a 37% premium to the company’s May 7 closing price, before news of a potential deal surfaced. The stock showed minimal movement on Friday morning after rising over 34% in the past month.
Upon completion, PowerSchool will be delisted from the New York Stock Exchange and become a private company. Vista Equity Partners and Onex Partners will retain minority stakes in PowerSchool.
“With Bain Capital’s support, PowerSchool will have access to additional resources and the flexibility to deliver even more growth and innovation, particularly with PowerBuddy, our generative AI platform, and scale our global reach in helping schools personalize education for every student journey,” said Hardeep Gulati, CEO of PowerSchool.
