PowerSchool Holdings (NYSE:PWSC), a leading provider of cloud-based software solutions for K-12 education, announced today the successful closure of its acquisition by Bain Capital.
The transaction was finalized at $22.80 per share in cash, valuing the company at approximately $5.6 billion.
PowerSchool is renowned for its comprehensive suite of educational and operational technology software that supports over 60 million students across more than 90 countries.
The company’s solutions are instrumental in enhancing various facets of the K-12 educational journey, catering to over 18,000 customers worldwide.
"We could not be more excited to enter this next phase of PowerSchool’s development," said Hardeep Gulati, Chief Executive Officer of PowerSchool.
Following the merger, PowerSchool requested the delisting of its Class A Common Stock from the New York Stock Exchange and will continue operations as a privately held company.