USER - UserTesting jumps 90% after agreeing to$1.3B sale to Thoma Bravo Sunstone
- UserTesting ( NYSE: USER ) soared 90% in premarket trading after it agreed to be sold to private equity firms Thoma Bravo and Sunstone Partners for $1.3 billion.
- The PE firms agreed to $7.50/share in cash for the digital customer insight company, according to a statement. That represents a 94% premium to UserTesting's ( USER ) closing price on Wednesday.
- The deal is expected to close in the first half of 2023. The agreement includes a "go-shop" period that expires Dec. 10 that allows UserTesting ( USER ) to consider alternative acquisition proposals.
- Following the close of the deal, Thoma Bravo and Sunstone intend to combine UserTesting and UserZoom, which Thoma Bravo acquired majority control of in April 2022.
- Bloomberg reported that an agreement was expected to be reached earlier.
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UserTesting jumps 90% after agreeing to$1.3B sale to Thoma Bravo, Sunstone