Squarespace (NYSE: SQSP), a New York City-based provider of a design-driven platform that assists entrepreneurs in creating brands and companies online, and Permira, a global private equity company, have finalized their plan to acquire Squarespace. The all-cash deal is estimated to be worth $6.9 billion.
Squarespace investors will get $44.00 in cash per share under the terms of the deal, which represents a transaction valued at about $6.6 billion based on equity valuation and around $6.9 billion based on enterprise value. The acquisition price is 15% higher than Squarespace’s closing share price of $38.19 on the NYSE on May 10, 2024, and almost 29% higher than the company’s 90-day volume-weighted average trading price.
After the deal closes, Squarespace will be a privately held business.
After this transaction, Anthony Casalena will retain his position as one of the largest owners and roll over a sizable portion of his current stake. Together with the present Squarespace leadership team, who are anticipated to stay in their positions when the transaction closes, he will continue to oversee the company in all facets of its operations as CEO and Board Chairman.
About Squarespace
Squarespace is a design-driven platform that helps business owners in over 200 countries and territories establish their online identity, attract customers, generate revenue, and grow their company. Websites, domain names, e-commerce, marketing tools, scheduling tools with Acuity, social media presence creation and management tools with Bio Sites and Unfold, and hospitality company management tools with Tock are all part of its product package.
