RTTNews | Dec 10, 2021 11:15AM EST

11:14 Friday, December 10, 2021 (RTTNews.com) - Massachusetts-based software company, EngageSmart, LLC (ESMT) is trading 7% higher on the news of being acquired by Summit Partners L P.

The investment firm has announced through SEC filing for its third quarter that it has acquired EngageSmart along with LifeStance Health Group Inc, Markforged Holding Corp, and Sharecare Inc. for a total valuation of $2.9 billion.

Following the news, the stock is currently trading at $23.43, up $1.53 or 6.99% since the previous close at $21.90. In the morning, the stock opened at $22.72. The shares have ranged between $19.96 and $38.83 in the 52-week period.

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