Kirkland & Ellis is representing global investment firm Vista Equity Partners on the $4 billion acquisition of customer engagement software and integrated payments solutions provider EngageSmart. The deal was announced October 23, 2023. Vista is paying $23 per share in cash for EngageSmart, which represents a 30% premium to the 30-day unaffected volume-weighted average price.
The EngageSmart Board of Directors has unanimously approved the merger agreement, and EngageSmart has entered into support agreements with affiliates of General Atlantic and Summit Partners, owners of 52% and 14% of the fully diluted stock of the Company, respectively. Upon completion of the transaction, affiliates of Vista will hold approximately 65% and affiliates of General Atlantic, a leading global investor, will hold approximately 35% of the outstanding equity. The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and regulatory approvals.
The Kirkland team is being led by corporate partners David Klein, Lee Blum, Ari Levi, Daniel Wolf and Stuart Casillas and associates Michael Nester and Hayley Gilbert; executive compensation partners Rohit Nafday and Katherine Nemeth; antitrust & competition partner Marin Boney; tax partner David Kung; debt finance partners Sonali Jindal and Austin Glassman and associate Elena Babakhanyan; and technology & IP transaction partners John Lynn and Daisy Darvall.