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Symphony Technology Buys SurveyMonkey Parent Momentive Global for $1.5B

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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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