WASHINGTON (dpa-AFX) - Instructure Holdings (INST) has entered into a definitive agreement to be acquired by investment funds managed by KKR, for $23.60 per share in an all-cash transaction valued at an enterprise value of approximately $4.8 billion. KKR, with participation from Dragoneer Investment Group, will acquire all outstanding shares, including those shares owned by Instructure's existing majority owner, Thoma Bravo, which took the company public in 2021. KKR is making investment in Instructure through North America Fund XIII.
Upon completion, Instructure's common stock will no longer be listed on the New York Stock Exchange and Instructure will become a privately held company.
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