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Instructure Holdings Signs Definitive Agreement To Acquire Parchment In Transaction Valued At Approximately $835M

Author: Benzinga Newsdesk | October 30, 2023 05:18pm

Parchment has more than 15,000 customers and has exchanged more than 165 million credentials over two decades.Including a tax benefit resulting from the transaction, the net purchase price is approximately $795 million, or approximately 16 times Parchment's expected 2024 Adjusted EBITDA inclusive of anticipated run-rate cost synergies.Parchment is expected to contribute approximately $115 million of revenue in 2024.

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