Why PowerSchool Stock Is Soaring to the Head of the Class Today
Private equity giant Bain Capital is said to be considering an acquisition of education software provider PowerSchool Holdings (NYSE: PWSC). Investors are cramming to get in ahead of a potential deal, sending PowerSchool shares up 20% as of 10:30 a.m. ET.
PowerSchool provides a cloud-based software program used by 55 million students at 17,000 North American schools and school districts, serving as a clearinghouse to track grading, attendance, registration, and other tasks.
The Wall Street Journal says that Bain is in talks to take the company private in a deal that would value PowerSchool at about $6 billion, including its $1 billion in debt. An agreement like this would offer significant upside to PowerSchool's $3.4 billion market capitalization heading into trading Wednesday.
Source Fool.com
