Atairos To Acquire TriNet Stake From General Atlantic - Quick Facts

(RTTNews) - Atairos Group, Inc. and TriNet Group, Inc. (TNET) announced that Atairos will acquire an approximate $440 million ownership stake in TriNet by purchasing approximately 17.7 million shares of TriNet common stock for $25.00 per share from funds affiliated with General Atlantic, a global growth investor. The investment represents an approximately 26 percent ownership position in TriNet, bringing Atairos' total ownership position to approximately 28 percent. TriNet will not receive any proceeds in connection with this transaction.

In connection with the investment, Atairos has entered into a stockholder agreement with TriNet, pursuant to which, among other things, Michael Angelakis, CEO of Atairos, will join TriNet's Board, increasing the total number of TriNet Directors to ten.