Squarespace said on Monday it has agreed to be taken private by private equity firm Permira in an all-cash deal valued at approximately $6.9 billion. Under the terms of the agreement, Squarespace stockholders will receive $44.00 per share in cash, representing a premium of about 29% over the company’s 90-day volume weighted average trading price.

Upon completion of the transaction, Squarespace will become a privately held company. Founder and CEO Anthony Casalena will continue to lead the business and be one of the largest shareholders following the deal. “Squarespace has been at the forefront of providing services to businesses looking to establish themselves online for more than two decades. We are excited to continue building on that foundation, and expanding our offerings, for years to come,” said Casalena in a statement.

“We are thrilled to be partnering with Permira on this new leg of our journey, alongside our existing long-term

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