(Bloomberg) -- KKR & Co. has emerged as the front-runner to acquire Instructure Holdings Inc., according to people with knowledge of the matter, in a deal that could value the education software provider at about $4.7 billion including debt.
The private equity firm, which has been vying with Francisco Partners for control of Instructure, is discussing an offer of about $24 per share, the people said, asking not to be identified discussing confidential information.
Shares in Salt Lake City-based Instructure fell as much as 7.2% on Friday. The stock was down 5.9% at $23.74 at 10:45 a.m. in New York, giving the company a value of about $4.6 billion including debt. Thoma Bravo owns almost 84% of the company’s stock, according to data compiled by Bloomberg.
Deliberations are ongoing and there’s no certainty they’ll result in a sale of Instructure, the people said. A spokesperson for Thoma Bravo declined to comment. Representatives for Instructure, KKR and Francisco Partners didn’t immediately respond to requests for comment.
Founded in 2008, Instructure provides software to help schools and teachers with planning learning schedules and monitoring student performance. Thoma Bravo took the company private in 2020 and relisted it the following year.
A take-private of Instructure would be the second involving an education software provider in quick succession. Bain Capital agreed in June to buy PowerSchool Holdings Inc. in a $5.6 billion deal.
(Updates shares in third paragraph.)
©2024 Bloomberg L.P.
