Cloud-based education software vendor PowerSchool is being taken private by investment firm Bain Capital in a $5.6 billion deal.
The announcement comes amid a swathe of take-private deals led by private equity firms seeking a bargain on under-performing enterprise software firms.
PowerSchool is a web-based platform aiding educational institutions in managing operations like enrollment, grades, attendance, and communication; went public in 2021.
Previously acquired by private equity firms Onex and Vista, PowerSchool's departure from the public market signals a strategic shift in ownership.
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