Cloud-based education software vendor PowerSchool is set to be acquired by investment firm Bain Capital for a whopping $5.6 billion in a deal that will take the company private.
The announcement comes amidst a wave of similar take-private deals orchestrated by private equity firms looking to capitalize on struggling enterprise software companies.
Established in 1997, PowerSchool offers a web-based platform designed to streamline various aspects of educational institutions’ operations, including enrollment, grades, attendance, and communication with both parents and students.
The company made its debut on the New York Stock Exchange (NYSE) in 2021, having previously been acquired by private equity firms Onex and Vista.
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