The founders of Sprout Social – including Justyn Howard, Gil Lara, Aaron Rankin and Peter Soung – are in talks to take the provider of social media tools to businesses private and have held talks with private equity firms that could partner with them on a deal, people familiar with the matter told Reuters’ Milana Vinn and Anirban Sen. The company’s board has established a special committee of independent directors to weigh a deal and has tapped Morgan Stanly to serve as its adviser, the authors note. Sprout Social shares are up 8% after the news.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPT:
- Levi & Korsinsky LLP Notifies Sprout Social, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline – SPT
- Sprout Social management to meet with Piper Sandler
- #SocialStocks: TikTok seeks to overturn ban in federal lawsuit
- Sprout Social Stock (NASDAQ:SPT): Is the 40% Plunge a Buying Opportunity?
- Amgen upgraded, Peloton downgraded: Wall Street’s top analyst calls