
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.
