
Thoma Bravo, Sunstone Partners to Take UserTesting Private for $1.3B
Private equity firms Thoma Bravo and Sunstone Partners revealed plans to acquire UserTesting, Inc. for $7.50 per share, a premium of 94% over the $3.86 closing price on October 26 and 97% over its volume weighted average price for the previous 30 days.
The all-cash deal worth approximately $1.3 billion is expected to close in the first half of 2023.
The two firms intend to combine UserTesting and digital UX specialist UserZoom, in which both are investors, with Thoma Bravo the majority shareholder.
UserTesting CEO, Andy MacMillan, will lead the combined company.
The proposed deal includes a “go-shop” period which expires on 10 December, during which UserTesting is free to solicit and consider alternative proposals.