StarTek signs agreement to be acquired by CSP Management for $4.30 per share

Startek has entered into a definitive agreement to be acquired by funds managed by Capital Square Partners in an all-cash transaction with a total enterprise value of approximately $217M and total equity value of approximately $174M. CSP will acquire all shares of Startek common stock not already owned by CSP for $4.30 per share in cash. The purchase price represents a premium of approximately 32% to Startek’s closing share price of $3.26 on October 9, and a premium of approximately 50% to the closing price of the shares. On July 18, , Startek received a preliminary non-binding proposal from CSP to acquire all shares of Startek common stock that it does not already own for $3.80 in cash per share. The Special Committee unanimously recommended that the Board approve the merger agreement. Subsequently, the Startek Board, based on the recommendation of the Special Committee, unanimously approved the merger agreement. The transaction is expected to close by the end of 2023. The transaction is not subject to any financing contingency. Upon completion of the transaction, Startek will no longer trade on the NYSE and will become a private company.