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Direct Investment  + M&As  |  March 14, 2023
Symphony Technology Buys SurveyMonkey Parent Momentive Global for $1.5B
Joe Palmisano
By: Joe Palmisano

Symphony Technology Buys SurveyMonkey Parent Momentive Global for $1.5B

A consortium led by private equity firm Symphony Technology Group will take Momentive Global, the parent of SurveyMonkey, private in an all-cash deal with a $1.5 billion valuation.

Shareholders of San Mateo, CA-based Momentive will receive $9.46 per share, giving the popular survey platform a 46% premium compared to the stock’s last closing price before reports of a potential sale surfaced last October.

As Momentive looks to expand its customer base and product offerings, STG’s capabilities in software, analytics, and data could help it achieve its long-term strategy.

“SurveyMonkey is the most iconic brand in survey technology and has a terrific reputation among individuals, teams, and enterprises for innovation and leadership, with an impressive combination of incredible ease of use and advanced enterprise capabilities and analytics,” said J.T. Treadwell, managing director of STG.

The deal is expected to close in the second or third quarter of this year. Upon closing, Momentive shares will cease to trade publicly.

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Momentive GlobalSymphony Technology Group

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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