(Reuters) – Vista Equity Partners is close to a $4 billion deal to acquire payments software vendor EngageSmart, a sizable buyout at a time when many private-equity firms are sitting on the sidelines, the Wall Street Journal reported on Monday.
Shares of EngageSmart rose more than 10% in trading before the bell.
Under the terms of the deal, shareholders in EngageSmart would receive $23 per share in cash, the report said, citing people familiar with the situation.
Vista Equity Partners and EngageSmart did not immediately respond to Reuters’ request for comment.
(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Dhanya Ann Thoppil)
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