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Instructure Holdings (NYSE:INST) rose 6.4% in after hours buying and selling Friday amid a report that non-public fairness agency Thoma Bravo is exploring a sale of the schooling software program supplier.
Thoma Bravo, which has an 83% stake within the firm, has retained JPMorgan to solicit curiosity from potential patrons that embody different personal fairness companies, in response to a Reuters report late Friday, which cited individuals conversant in the matter. The sources cautioned that no deal is for certain.
Instructure (INST) has a market cap of about $3 billion.
Thoma Bravo, Instructure and JPMorgan didn’t instantly reply to Reuters requests for remark.
Thoma Bravo acquired Instructure (INST) in 2020 for about $2 billion, and the corporate returned to the capital markets a few 12 months later via an IPO that was priced at $20 a share. The shares are little modified for the reason that IPO in July 2022.
A possible Instructure (INST) sale comes after a report earlier this month Bain Capital is in talks to take the education-software supplier PowerSchool Holdings (PWSC) personal. The deal could worth PowerSchool at $6 billion, A deal could worth PowerSchool within the $20s per share.
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