09:20 AM EDT, 07/25/2024 (MT Newswires) -- Instructure Holdings ( INST ) said Thursday it has agreed to be acquired by KKR (KKR) for $23.60 per share in an all-cash deal valued at approximately $4.8 billion.

KKR, along with Dragoneer Investment Group, will purchase all outstanding shares, including those owned by current majority owner Thoma Bravo, Instructure ( INST ) said.

The deal is expected to close later in 2024, subject to customary closing conditions and regulatory approvals.

Chief Executive Steve Daly and the current management team will remain in their roles, according to the company statement. Upon deal completion, Instructure ( INST ) will become a privately held company.

Instructure ( INST ) shares rose 1.6% in recent Thursday premarket activity.

Price: 23.10, Change: +0.37, Percent Change: +1.63