Deals
UserTesting Gains 99% on Sale to Thoma Bravo, Sunstone
- Buyout firms paying $7.50 per share for San Francisco company
- Transaction values UserTesting at about $1.3 billion
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UserTesting Inc. rose as much as 99% on Thursday after the digital consumer insight company agreed to sell to private equity firms Thoma Bravo and Sunstone Partners in a deal valued at about $1.3 billion.
The buyout firms agreed to pay $7.50 per share in cash for the San Francisco-based company, according to a statement Thursday, confirming a Bloomberg News report. That’s about a 94% premium to UserTesting’s closing price of $3.86 on Wednesday in New York, according to data compiled by Bloomberg.