NEW BRAUNFELS, Texas - TaskUs, Inc. (NASDAQ:TASK), a provider of outsourced digital services, has agreed to be acquired by an affiliate of Blackstone and its co-founders in a deal worth $16.50 per share in cash. This transaction will transition TaskUs to a private company and represents a 26% premium over the company’s 30-day volume-weighted average price.
The deal, unanimously recommended by a special committee of independent directors formed on March 20, 2025, is expected to close in the second half of 2025, pending customary closing conditions and approvals. TaskUs co-founders Bryce Maddock and Jaspar Weir will maintain their executive roles post-acquisition.
TaskUs has seen growth in sectors such as social media, e-commerce, and healthcare, generating annual revenue of $995 million with 7.64% year-over-year growth. The company maintains strong financial health with a comfortable liquidity position and moderate debt levels, while boasting a global workforce of approximately 59,000 as of December 31, 2024. The acquisition by Blackstone is aimed at providing TaskUs with the flexibility and resources necessary to invest in AI capabilities to meet the evolving needs of its clients in the AI era.
Evercore Group L.L.C. and Cravath, Swaine & Moore LLP are advising the Special Committee, while BofA Securities and Simpson Thacher & Bartlett LLP are advising the Buyer Group. Latham & Watkins LLP is providing legal counsel to Maddock and Weir.
The transaction is subject to approval by TaskUs stockholders, excluding shares owned by the Buyer Group, and regulatory approvals. Additional details will be provided in the Company’s proxy statement and other relevant documents to be filed with the SEC.
The information in this article is based on a press release statement. For deeper insights into TaskUs’s financial health and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro, which offers exclusive access to advanced metrics, Fair Value calculations, and expert analysis for over 1,400 US stocks.
In other recent news, TaskUs Inc. reported its fourth-quarter 2024 financial results, revealing a notable revenue increase to $274.2 million, surpassing the forecast of $268.65 million. However, the company’s earnings per share (EPS) fell short of expectations, coming in at $0.31 against the anticipated $0.35. Despite this, TaskUs maintained strong operational metrics, including a 19.6% adjusted EBITDA margin for the quarter. In addition to its financial performance, TaskUs launched its Agentic AI Consulting practice, aimed at helping companies integrate AI-powered automation into their operations. This new service leverages TaskUs’s expertise in workflow optimization and human-AI interaction. The company also projects revenue growth of 10% to 13% for 2025, with expected revenue ranging from $1,095 million to $1,125 million. As part of its strategic initiatives, TaskUs is increasing investments in AI services and security infrastructure, aiming to enhance operational efficiency. The company believes these efforts will help it remain competitive in the rapidly evolving technological landscape.
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