By Kelly Cloonan
Shares of TaskUs climbed after the company said it will go private and reported first-quarter results above Wall Street's expectations.
The stock rose 16% to $16.66 Friday. Shares have risen 25% over the past 12 months.
The digital services and customer experience company on Friday said its co-founders and an affiliate of Blackstone will acquire all the outstanding shares they don't already own to take the company private.
Co-Founder and Chief Executive Bryce Maddock and Co-Founder and President Jaspar Weir along with the Blackstone affiliate will acquire all outstanding shares for $16.50 each in an all-cash deal. Maddock and Weir will continue to serve in their respective roles.
The company's board approved the transaction upon unanimous recommendation from a special committee of independent directors.
Maddock said the change will provide immediate value to shareholders and enable TaskUs to make long-term investments as it scales and adapts to the artificial intelligence age.
The transaction is expected to close in the second half of 2025.
The company separately Friday posted a first-quarter profit of $21.1 million, or 23 cents a share, compared with $11.7 million, or 13 cents a share, a year earlier.
Adjusted earnings per share were 38 cents, above the 32 cents expected by analysts polled by FactSet.
Revenue rose 22% to $277.8 million. Analysts polled by FactSet expected $271.1 million.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 09, 2025 11:37 ET (15:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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