(Reuters) -Payments software vendor EngageSmart said on Monday it would be taken private by Vista Equity Partners for about $4 billion, marking the latest buyout deal in the technology sector.
Shares of EngageSmart rose more than 11% in trading before the bell.
Under the terms of the deal, shareholders in EngageSmart will receive $23.00 per share in cash.
The offer represents a premium of nearly 23% to the stock’s closing price on Oct. 4, a day before Reuters reported that private equity firm General Atlantic, which owns a 52% stake, was exploring a sale of the company.
(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Dhanya Ann Thoppil)
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