RTTNews | Dec 14, 2020 12:38AM EST

00:38 Monday, December 14, 2020 (RTTNews.com) - Technology workforce development company Pluralsight Inc. (PS), on Monday, said it has entered into a definitive agreement to be acquired by Vista Equity Partners, a global investment firm, for $20.26 per share in an all-cash transaction valued at about $3.5 billion.

The purchase price represents a premium of about 25% to the company's volume weighted average closing stock price for the 30 trading days prior to Monday's announcement.

The transaction, which is expected to close in the first half of 2021, is subject to customary closing conditions, including approval by Pluralsight shareholders and receipt of regulatory approvals. Upon closing, Pluralsight would become a privately held company and shares of Pluralsight common stock would no longer be listed on any public market.

Pluralsight, which would continue to be headquartered in Silicon Slopes, Utah, has over 1,700 employees, provides technology workforce development solutions, including skills intelligence, skills development and engineering management capabilities.

The company's two products, Pluralsight Skills and Pluralsight Flow, are used by more than 17,000 customers, including 70% of Fortune 500 companies.

Read the original article on RTTNews ( https://www.rttnews.com/3153222/pluralsight-to-be-acquired-by-vista-for-3-5-bln-cash.aspx)

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