An investor consortium led by Symphony Technology Group completed the acquisition of Momentive, the maker of SurveyMonkey, in an all-cash transaction valued at approximately $1.5 billion. Silver Point acted as sole lead arranger and provided committed debt financing in support of the acquisition. The acquisition was previously announced on March 13 and approved by Momentive shareholders at a special meeting on May 31.
Under the terms of the merger agreement, Momentive shareholders will receive $9.46 per share they own as part of transaction. As a result of the completion of this transaction, Momentive common stock will cease trading and will no longer be listed on the Nasdaq Stock Market. Momentive will operate as a privately held company and remain headquartered in San Mateo, CA.
“We are excited to begin the journey. The iconic SurveyMonkey platform is a market-leading brand full of capability and innovation potential,” J.T. Treadwell, managing director at Symphony Technology Group, said. “We’re thrilled to partner with the company to continue delivering innovative, world-class solutions that meet the needs of everyone from the individual to the enterprise.”
Qatalyst Partners served as financial advisor to Momentive in connection with the transaction. Wilson Sonsini Goodrich & Rosati served as legal counsel to Momentive.
J.P. Morgan Securities and BofA Securities served as financial advisors to Symphony Technology Group. Paul Hastings served as legal counsel to Symphony Technology Group.
