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Squarespace enters agreement with Permira for USD 6.9 billion to go private
No-code Software
May 13, 2024
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No-code Software

No-code Software

May 13, 2024

Squarespace enters agreement with Permira for USD 6.9 billion to go private

Funding

  • Squarespace, a no-code platform to build websites, has announced that it entered a definitive agreement with Permira, a private equity firm, to go private for ~USD 6.9 billion in an all-cash transaction.

  • Under the terms of the agreement, Squarespace stockholders will receive USD 44 per share in cash (representing a premium of 29% over the stock’s 90-day volume-weighted average trading price). Furthermore, the company announced that General Atlantic and Accel will re-invest as part of the agreement, while CEO Anthony Casalena retains a “substantial majority of his existing equity” and continues to be one of the largest shareholders. 

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