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Squarespace to Go Private in $6.9B All-Cash Transaction with Permira (investors.squarespace.com)

submitted 6 months ago by lautan@lemmy.ca to c/technology@lemmy.world

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Stockholders will receive $44.00 per share in cash, which represents a premium of 29% over the 90-day volume weighted average trading price of $34.09 Squarespace, Inc. (NYSE: SQSP ), the design-driven platform helping entrepreneurs build brands and businesses online, today announced that it has entered into a definitive agreement to go private by Permira, the global private equity firm, in an all-cash transaction valued at approximately $6.9 billion. Under the terms of the agreement, Squarespace stockholders will receive $44.00 per share in cash representing a transaction valued at over $6.6 billion on an equity value basis and approximately $6.9 billion on an enterprise value basis. The purchase price represents a premium of approximately 29% over Squarespace's 90-day volume weighted average trading price, and a premium of 15% over Squarespace's closing share price of $38.19 on the NYSE on May 10, 2024. Upon completion of the transaction, Squarespace will become a privately held

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[–] Bahnd@lemmy.world 63 points 6 months ago (5 children)

I dont know how to feel about this...

My domain got transfered to them from Google domains shutting down and now its being brought under a private equity umbrella... Something fucky.

[–] flumph@programming.dev 40 points 6 months ago (1 children)

I switched all my domains to Porkbun. No way I'm hanging out in Squarespace land.

[–] brbposting@sh.itjust.works 7 points 6 months ago

I like their “I don’t like your name“ page

[–] atocci@kbin.social 19 points 6 months ago

I switched to Cloudflare. Squarespace wasn't going to work for me.

[–] foggy@lemmy.world 16 points 6 months ago

Yeah the 1 2 punch reeks of sketchy business.

[–] aniki@lemm.ee 8 points 6 months ago (1 children)

I'd transfer if I were you. Pro-tip, never use the same company for hosting AND DNS. It gives one company way to much power.

[–] Bahnd@lemmy.world 4 points 6 months ago

Not worried about that, I self-host everything, its that Google domains were cheap, quiet, and handled the routing I needed, now... I dont know what to expect.

[–] sugar_in_your_tea@sh.itjust.works 3 points 6 months ago

I'm with namecheap. Good enough for me.