Sunday, May 19, 2024

Bain Capital Negotiating PowerSchool Privatization – WSJ Report

Bain Capital is reportedly in talks to acquire PowerSchool Holdings, Inc. (PWSC) in a bid to take the education software provider private, as per a report from The Wall Street Journal on Wednesday.

Sources cited by The Wall Street Journal suggest that discussions between Bain Capital and PowerSchool Holdings, Inc. are progressing, with a potential deal expected to materialize in the coming weeks. While negotiations are ongoing, there’s a possibility that talks might not reach fruition.

The deal, as per WSJ, could value PowerSchool at approximately $20 per share, with an overall valuation of nearly $6 billion, including nearly $1 billion in debt.

On Tuesday, PowerSchool’s stock closed at $16.64 per share. However, following the news, the stock surged to $20.82 per share during Wednesday’s trading session.

PowerSchool recently disclosed its first-quarter earnings, reporting an EPS of $0.17, falling short of the analyst consensus of $0.21. Despite this, the company’s revenue for the quarter stood at $185 million, slightly surpassing the consensus estimate of $184.8 million.

Looking ahead, PowerSchool anticipates second-quarter revenue to range between $192 million and $197 million, compared to the consensus of $197 million.

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