Momentive Global (NASDAQ:MNTV) the parent of SurveyMonkey, has agreed to be acquired by a Symphony Technology-led consortium at a valuation of $1.5 billion.
Under the all-cash transaction, MNTV investors will receive $9.46 per share held by them. This points to a hefty premium compared to the stock’s last closing price of $7.72.
As MNTV looks to expand its customer base and product offerings, STG’s capabilities in software, analytics, and data could help it achieve its long-term strategy.
The deal has bagged approval from MNTV’s board and is expected to close in the second or third quarter of this year. Upon closing of the deal, MNTV shares will cease to trade publicly.
Shares of the company had gained nearly 12% over the past five sessions and are up about 20% today already.
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