QFOR stock soars after agreeing to be acquired

Another day, another acquisition of a Canadian tech by a private equity firm.

Shares of Q4 Inc (Q4 Inc Stock Quote, Chart, News, Analysts, Financials TSX:QFOR) are leading the TSX today after the company agreed to be bought out by Californai-based Sumeru Equity Partners for approximately $257-million, or $6.05 per share.

The transaction garnered unanimous approval for the company’s board.

“I am very pleased about this significant milestone in our journey,” Q4 CEO Darrell Heaps said. “Sumeru’s belief in our vision, and their exceptional track record in supporting founders and management teams speaks volumes. I am excited to collaborate with them and drive category-defining growth, building the next great capital markets platform company. Q4 has become a central force in how thousands of public companies communicate and engage with the market. The Q4 Platform, fuelled by innovative technology, data and insights, empowers our customers to communicate their investment story to the world. It enables them to identify and target investors strategically, helping them build a strong shareholder base. The Sumeru team possesses a deep understanding of our business and their support will enable us to further build on our exceptional culture, while investing in our strategic initiatives and expanding our platform to help our customers win in the capital markets.”

With more than 2600 clients, Toronto-based Q4 provides a platform for public companies to enahace their investor relations activities.

At press time, shares of QFOR were up 34.2 per cent to $5.96.