07:42 AM EDT, 03/11/2024 (MT Newswires) -- mdf commerce inc. (MDF.TO), a SaaS player in digital commerce technologies, entered Monday into an arrangement agreement to be acquired by funds managed by KKR, a global investment firm, for $5.80 per share, cash. This represents $255 million in total equity value and is a premium of approximately 58% to the closing price of the common shares on the TSX on March 8.

Upon completion of the transaction, mdf commerce will become a privately held company.

"After a comprehensive strategic review process, we are pleased to have reached an agreement with KKR that provides immediate liquidity and certainty of value at an attractive premium to our shareholders," said Pierre Chadi, Chairman.

Following the transaction's close, KKR will support mdf commerce in creating an equity ownership program for all employees to participate in the benefits of ownership of the company. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-management employees across more than 40 companies, the statement added.