Permira's acquisition of Squarespace highlights the ongoing trend of private equity firms targeting public tech companies, especially when their valuations fluctuate based on market conditions.
The acquisition's success followed an increased offer by Permira, demonstrating shareholder dynamics where initial undervaluation can lead to higher bids when financial outlooks improve.
The sale of Squarespace's restaurant reservation service Tock to American Express for $400 million illustrates the company's strategic moves to enhance its portfolio value before going private.
Despite facing a severe drop in market cap in 2022, Squarespace's strong earnings recovery allowed it to maintain a valuation that attracted significant acquisition interest.
Collection
[
|
...
]