By Milana Vinn
(Reuters) – Private equity firms KKR and Francisco Partners are competing to acquire Instructure, a U.S. education software provider with a market value of $3.4 billion, people familiar with the matter said on Wednesday.
The two buyout firms are through to the final round of bidding for Instructure and are preparing to submit binding offers next week, the sources said.
There is no certainty that private equity firm Thoma Bravo, which holds an 83% stake in Instructure, will agree to sell it, and other bidders could emerge, the sources added, requesting anonymity because the matter is confidential.
Instructure, KKR, Francisco Partners and Thoma Bravo declined to comment.
(Reporting by Milana Vinn in New York; Editing by Greg Roumeliotis)
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