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Pluralsight, Inc. (NASDAQ: PS) encourages shareholders to vote 'FOR' its proposed acquisition by Vista Equity Partners during the special meeting on March 2, 2021.
The transaction promises substantial value, offering a cash premium of 26% over the undisturbed price, with multiples above the median in prior M&A deals.
However, challenges remain, including intense market competition and the need for future acquisitions which could pose execution risks. The independent Transaction Committee believes this acquisition is a more favorable option than pursuing a standalone strategy.
On February 9, 2021, Pluralsight (NASDAQ: PS) announced a partnership with Degreed to enhance technology upskilling efforts. This collaboration aims to provide a seamless integrated experience for joint customers, allowing them to better assess and improve their employee skill inventory. Key features include the incorporation of Pluralsight's Skill IQ assessments into Degreed's analytics, enabling enhanced visibility into technology skills. This partnership supports organizations in aligning skills with business objectives, ultimately facilitating digital transformation.
Pluralsight, a technology workforce development company, announced the integration of its Skills platform with Microsoft Viva. This collaboration enables Microsoft customers with active Pluralsight Skills licenses to access Pluralsight’s extensive library of technology courses directly through Microsoft Teams. The integration aims to enhance employee learning experiences and foster a culture of ongoing education, allowing enterprises to develop crucial technology skills. The partnership underscores the shared commitment of both companies to improving employee engagement and skill development.
Pluralsight (NASDAQ: PS) announced a definitive agreement to be acquired by Vista Equity Partners for $20.26 per share in cash, representing a 25% premium over its 30-day average price. The independent Transaction Committee and Board believe this transaction provides immediate and certain value to shareholders. Despite recent revenue growth, Pluralsight faces significant competition and risks that have led to stock volatility. The merger is seen as a strategic move to maximize shareholder value, especially in light of challenges in the competitive landscape.
Pluralsight (NASDAQ: PS) has partnered with Ryanair to enhance its engineering team's productivity by utilizing Pluralsight Flow. This strategic collaboration aims to improve workflows with analytics and actionable insights, enabling Ryanair to adapt to remote work challenges. The initiative has already led to increased productivity for Ryanair's technology leaders, allowing better management of their engineering processes. According to Ryanair's CTO, the insights from Flow empower teams and help them overcome roadblocks, ensuring faster delivery of technological solutions.
Pluralsight (NASDAQ: PS) has announced the acquisition of Next Tech, a San Diego-based provider of cloud-based computing environments. This strategic move aims to enhance Pluralsight's technology skills platform by integrating hands-on experiences into existing content. CEO Aaron Skonnard highlighted the growing necessity for businesses to invest in team skills for digital transformation. The acquisition seeks to deliver a more comprehensive solution to upskill and reskill teams effectively, leveraging both video content and practical experiences.
Akaris Global Partners has expressed strong opposition to Pluralsight's proposed sale to Vista Equity Partners at $20.26 per share. Citing concerns about undervaluation, Akaris argues that the offer is significantly lower than analyst target prices and recent market transactions in the enterprise software sector. They believe the sale undervalues Pluralsight's unique position in the IT learning space and questions the thoroughness of the Board's sales process. Akaris Global intends to vote against the transaction unless a fairer offer is presented.
Vista Equity Partners has announced an agreement to acquire Pluralsight for $20.26 per share in cash, valuing the transaction at approximately $3.5 billion. This price reflects a 25% premium over the company's average stock price over the last 30 days. The acquisition aims to enhance Pluralsight's ability to innovate and support its customers in technology skills development. The deal has received unanimous approval from Pluralsight’s Board and is expected to close in the first half of 2021.
Pluralsight (NASDAQ: PS) reported strong Q3 2020 results, exceeding revenue, earnings, and cash expectations. Q3 revenue grew by 20% year-over-year to $99.5 million, while billings increased by 9% to $100 million. Business customer billings rose 10% to $88.6 million. The gross margin improved to 79%, and net loss per share narrowed to $0.24. However, cash used in operations was $2.4 million, and free cash flow turned negative at $14.9 million. Despite lighter billings, the company remains optimistic following its recent PS LIVE event.
Pluralsight (NASDAQ: PS) has announced that it will release its Q3 2020 financial results on November 5, 2020, after the market closes. A conference call will follow at 2:30 PM MT to discuss the results, accessible via dial-in or a live webcast on the company’s investor relations website. Telephonic replay will be available until November 12, 2020. Pluralsight specializes in technology workforce development, helping enterprises enhance skills and processes through expert courses on critical technologies.
