Domain Registrar, Site Builder Squarespace Purchased by Permira for $6.9 Billion
The value of Squarespace significantly increased in July when Google announced it would be ending its Google Domains service and would sell the business to the New York City-based company. File photo: Monticello, ShutterStock.com, licensed.NEW YORK, NY – Private-equity firm Permira has entered into a deal with Squarespace to acquire the website-building platform and domain host/registrar in an all-cash deal valued at $6.9 billion, according to an announcement made this week by both companies.
The deal involves Permira paying approximately a 30 percent premium to Squarespace’s unaffected share price, which comes to $44 a share in cash; as a part of the transaction, the publicly-traded web company – which opened at $48 a share in 2021 and has never traded above that price since – will now be taken private, reports say.
Squarespace founder and CEO Anthony Casalena said in a release that “We are thrilled to be partnering with...
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