June 7 (Reuters) - Education technology company

PowerSchool Holdings ( PWSC ) said on Friday it would be

acquired by Bain Capital in a deal valuing the firm at $5.6

billion.

Under the terms, PowerSchool ( PWSC ) stockholders will receive

$22.80 per share in cash and existing shareholders - Vista

Equity Partners and Onex Partners - will continue to have

minority investments in the company after the deal closes.

Reuters had reported deal talks between Bain and PowerSchool ( PWSC )

on May 8.