Vista Equity to Take EngageSmart Private in $4 Billion Deal (1)

EngageSmart Inc., a business-to-business software company, has agreed to be acquired by Vista Equity Partners in an all-cash deal valued at about $4 billion.

Under terms of the agreement, EngageSmart shareholders will get $23 per share in cash when the deal closes, representing a 23% premium to the share price on Oct. 4, the company said in a statement Monday. The shares jumped 12% in premarket trading after the announcement to $22.61.

When the deal is complete, affiliates of Vista will hold about 65% and affiliates of General Atlantic, which currently has a 52% stake, will hold about 35% ...