Investing.com - Private equity firms KKR (NYSE:KKR) and Francisco Partners are in the race to acquire US-based education software provider Instructure (NYSE:INST), sources told Reuters on Wednesday.
Both firms have reportedly advanced to the final round of bidding for Instructure and are expected to present binding offers by next week.
However, there is no guarantee that Thoma Bravo, a private equity firm holding an 83% stake in Instructure, will agree to sell its stake. The possibility of other potential bidders entering the race also remains, the sources added.
Due to the confidential nature of the matter, the sources chose to remain anonymous.
When approached for comments, Instructure, KKR, Francisco Partners, and Thoma Bravo declined to comment.
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