Squarespace Up In Pre-market On News Of Acquisition By Permira

(RTTNews) - Shares of Squarespace, Inc. (SQSP) are rising more than 13 percent in pre-market on Monday to $43.16, after the website building company said it has agreed to be acquired by private equity firm Permira, in an all-cash deal valued about $6.9 billion.

As per the agreement, Squarespace stockholders will receive $44.00 per share in cash, a premium of 15 percent over Squarespace's closing share price of $38.19 on May 10.

Squarespace shares had closed at $38.19, up 3.72 percent on Friday. The stock has been trading in the range of $26.70 - $38.30 in the last 1 year.