Squarespace to Go Private in $6.9 Billion Deal with Permira

The website builder aims for greater flexibility and resources under new ownership.

Shareholders will receive $44 per share, a 15% premium over the closing price.
CEO Anthony Casalena will remain in his role and retain significant equity.
The deal is expected to close by the fourth quarter of 2024, pending regulatory approval.
Squarespace plans to enhance its tools for small and medium-sized businesses.
This move follows a trend of tech companies going private to focus on long-term growth.