Momentive Global, The Owner Of SurveyMonkey, Will Go Private In A $1.5 Billion Deal

Business/EconomyMomentive Global, The Owner Of SurveyMonkey, Will Go Private...

Owner of SurveyMonkey Momentive Global said on Monday that it would be bought by a group led by private equity firm Symphony Technology Group for an all-cash price of around $1.5 billion.
In extended trading, shares of the San Mateo, California-based company that runs the well-known survey platform increased 18.5% to $9.15.

According to the terms of the agreement, Momentive owners would receive $9.46 for each share they own, a premium of around 46% over the stock’s most recent finish before news of a potential sale broke in October.

The agreement, which is anticipated to be finalized in the second or third quarter of 2023, follows a 2021 offer by software services giant Zendesk to acquire Momentive for around $4 billion in an all-stock transaction that was later rejected owing to shareholder objections.

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