Deals
Vista, Onex-Backed Software Firm PowerSchool Plans IPO
- IPO could come this year at a $6 billion-plus valuation
- Virtual education has seen a major boost during pandemic
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PowerSchool has filed confidentially for a U.S. initial public offering that could value the education software provider at more than $6 billion, including debt, according to people with knowledge of the matter.
The company, backed by private equity firms Vista Equity Partners and Onex Corp., could IPO later this year, said the people, who asked to not be identified because the matter isn’t public. Folsom, California-based PowerSchool has engaged Goldman Sachs Group Inc. to lead the share sale, one of the people said.