DocuSign jumps 9% on rumors of Bain Capital and Hellman & Friedman acquisition interest
Bain Capital and Hellman & Friedman are leading the race to acquire DocuSign Inc . (NASDAQ:DOCU), the prominent online signature service provider with a market valuation of around $12 billion, according to a Reuters report today, which cited people familiar with the matter. Following the report, DocuSign shares jumped more than 9% intra-day today.
This potential acquisition is poised to be one of the largest leveraged buyouts of 2024. The two private equity firms are in the advanced stages of negotiation, with the possibility of collaborating to seal the deal. A conclusion to this high-profile auction is expected in the coming weeks, according to the sources.
Blackstone (NYSE:BX) was also in the initial discussions but has since withdrawn from the bidding process.
The interest in DocuSign, known for enabling digital signing of documents, has been surging. The company, which debuted on the public market in 2018, has recently reported a significant uptick in its financial performance, including a rise in quarterly earnings and revenue growth.
This acquisition scenario unfolds at a time when the leveraged buyout market is recovering from a period of high financing costs, marking a possible resurgence of major transactions in the tech sector.
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