FOLSOM, Calif. — Bain Capital, a private American investment firm based in Boston, is reportedly looking to buy out the Folsom-based software company PowerSchool.
PowerSchool, which manages education data and documentation, was founded in 1997 in California; it is headquartered in Folsom. Bain Capital, which was founded in part by Mitt Romney in 1984, is seemingly in talks to take the software company private, Reuters reported Wednesday.
The company authorized about 300,000,000 shares as of March 31. Share closing price Wednesday was $19.15, which means Bain Capital could value PowerSchool at around $6 billion.
PowerSchool was listed on the New York Stock Exchange in 2021 as the largest initial public offering (IPO) in K-12 software, according to the company.
“At this point, we’re no comment,” said Eddie de Sciora, a Bain Capital spokesman.
PowerSchool said it would not comment on initial reports.
"PowerSchool does not comment on rumors and speculation, and as the leading provider of cloud-based software for K-12 education in North America, is focused on delivering innovation, value and end-to-end support to our over 17,000 customers worldwide," the company said Wednesday in a statement.
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