Sumeru Equity Partners signs agreement to buy Q4 in deal valued at $257 million
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Hey there, time traveller!
This article was published 13/11/2023 (1075 days ago), so information in it may no longer be current.
TORONTO – Q4 Inc. has agreed to be taken private by a private equity firm in a deal valued at $257 million.
Sumeru Equity Partners has agreed to pay $6.05 per share for Q4, which helps companies communicate with shareholders and hold virtual events.
Q4 shares were up $1.52 at $5.96 in trading on the Toronto Stock Exchange on Monday morning.
Q4 founder and chief executive Darrell Heaps says the Sumeru team has a deep understanding of the company’s business and that their support will help it grow.
The agreement includes a go-shop provision which allows Q4 to solicit, evaluate and enter into talks regarding potentially superior bids.
The deal, which requires shareholder approval, is expected to close in the first quarter of 2024.
This report by The Canadian Press was first published Nov. 13, 2023.
Companies in this story: (TSX:QFOR)