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