SurveyMonkey owner Momentive Global to be taken private in $1.5 bln deal (updated)

Momentive Global

13/03/2023 22:21

(Adds details on the deal)
       March 13 (Reuters) - SurveyMonkey owner Momentive Global
 MNTV.O  on Monday said it would be acquired by a consortium led
by private equity firm Symphony Technology Group in an all-cash
deal that values the company at about $1.5 billion.
    Shares in the San Mateo, California-based firm, which
controls the popular survey platform, jumped 18.5% to $9.15 in
extended trading. 
    Under the terms of the deal, Momentive shareholders will get
$9.46 for each share owned, representing a premium of about 46%
to the stock's last close before media reports of a potential
sale emerged in October. 
    The deal, which is expected to close in the second or third
quarter of 2023, comes after software services company Zendesk
proposed to buy Momentive for nearly $4 billion in an all-stock
deal in 2021, but later refused due to opposition from
shareholders.
    
    

 (Reporting by Eva Mathews in Bengaluru; Editing by Maju Samuel
and Devika Syamnath)
 ((Eva.Mathews@thomsonreuters.com;))