KKR, Francisco Partners vying to acquire Instructure, sources say
Summary
(Reuters) -Private equity firms KKR and Francisco Partners are competing to acquire Instructure, a U.S. education software provider with a market value of $3.4 billion, people familiar with the matter said on Wednesday. There is no certainty that private equity firm Thoma Bravo, which holds an 83% stake in Instructure, will agree to sell it, and other bidders could emerge, the sources added, requesting anonymity because the matter is confidential. Thoma Bravo took Instructure private in 2020 for $2 billion before returning it to the stock market a year later through an initial public offering (IPO). Instructures shares are hovering just a little over their $20 IPO price three years later, as a boom the company enjoyed from spending on remote learning during the COVID-19 pandemic fizzled when competition from rivals intensified. PowerSchool Holdings, another educational software vendor, agreed to be acquired by private equity firm Bain Capital last month for $5.6 billion.
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