Management Software Company EverCommerce Explores Sale

EverCommerce shares jump, explores sale

EverCommerce (NASDAQ:EVCM), soared by 15% after a report said that the company is exploring a possible sale following takeover interest.

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EverCommerce's shares were up to $13.27, giving it a market cap of $2.5 billion.

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EverCommerce's Board formed a Special Committee consisting of Independent Directors to allow top investors to participate in a potential takeover.

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PSG Equity, Silver Lake who own respectively 45% and 35 % of EverCommerce, have yet to decide if they will participate in a potential deal.

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EverCommerce provides management software tools and is currently serving 685,000 small and medium-sized businesses.

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EverCommerce's shares rose more than 11% on Friday. The stock, however, has dropped around 6% over the past 12 months.

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Recently, EverCommerce has appointed Evan Berlin Executive Vice President and Chief Operating Officer.

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