Instructure Holdings Signs Definitive Agreement To Acquire Parchment In Transaction Valued At Approximately $835M
Portfolio Pulse from Benzinga Newsdesk
Instructure Holdings has signed an agreement to acquire Parchment for approximately $835M. The net purchase price, including a tax benefit, is approximately $795M. Parchment, with over 15,000 customers, is expected to contribute approximately $115M of revenue in 2024.
October 30, 2023 | 9:18 pm
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Instructure Holdings is acquiring Parchment, which is expected to contribute significantly to its revenue by 2024.
The acquisition of Parchment by Instructure Holdings is a significant move that is expected to contribute approximately $115M of revenue in 2024. This could potentially boost Instructure's financial performance and hence, its stock price in the short term.
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