FOLSOM, Calif. — Folsom-based software company PowerSchool is set to be acquired by Bain Capital, a private American investment firm based in Boston, for $5.6 billion.
PowerSchool, which manages education data and documentation, was founded in 1997 in California; it is headquartered in Folsom.
Stockholders will receive $22.80/share, a 37% increase over the $16.64 share price on the last trading day before news broke about the potential transaction.
“PowerSchool is a leader in K-12 SaaS technology in North America and is uniquely positioned to provide differentiated, mission-critical solutions that drive better education outcomes, empower educators, and help district operations run more efficiently,” said Hardeep Gulati, Chief Executive Officer of PowerSchool. “With Bain Capital’s support, PowerSchool will have access to additional resources and the flexibility to deliver even more growth and innovation, particularly with PowerBuddy, our generative AI platform, and scale our global reach in helping schools personalize education for every student journey.”
Vista Equity Partners and Onex Partners will continue to have minority investments in PowerSchool, according to Bain Capital.
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