PE firm Permira to buy website design software supplier Squarespace for $6.9 bn

Permira, the global private equity firm, will buy Squarespace, a website design and development software developer, in an all-cash transaction valued at $6.9 billion.
Internet user on laptopAnthony Casalena, Founder and CEO of Squarespace, and PE firms such as General Atlantic and Accel are the major investors in Squarespace.

Stockholders of Squarespace will receive $44 per share in cash representing a transaction valued at over $6.6 billion and approximately $6.9 billion on an enterprise value basis. The purchase price represents a premium of approximately 29 percent over Squarespace’s 90-day trading price, and a premium of 15 percent over Squarespace’s closing share price on May 10, 2024.

Squarespace will become a privately held company. Squarespace will make investment in enabling entrepreneurs to build better online brands and more easily transact with their customers.

Anthony Casalena, Founder and CEO of Squarespace, will sell a substantial majority of his equity and continue to be one of the largest shareholders. He will continue to serve as Squarespace’s Chief Executive Officer and Board Chairman. Squarespace’s current leadership team is expected to continue their roles.

Andrew Young, Partner at Permira, said: “The Squarespace ecosystem provides SMBs with a broad offering – from demand generation to powerful payment solutions, all seamlessly interwoven with intuitive GenAI.”

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