EngageSmart up on Vista Equity Partners' $4 bln deal

EngageSmart

23/10/2023 13:20

** Payments software vendor EngageSmart's  ESMT.N  shares up
10.05% at $22.2 premarket
    ** Co to be acquired by private-equity firm Vista Equity
Partners in an all-cash deal valued at about $4 bln
    ** EngageSmart shareholders would receive $23 per share in
cash 
    ** Upon completion of deal, affiliates of Vista will hold 
~65% and affiliates of General Atlantic, which owns 52% of ESMT,
 will hold ~35% of the outstanding equity
    ** Stock up ~15% this year, up to Friday's close

 (Reporting by Juby Babu in Bengaluru)
 ((Juby.Babu@thomsonreuters.com;))