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PowerSchool adds $100 million term loans for SchoolMessenger buy
By Wendy Van Sickle
Columbus, Ohio, Aug. 4 – PowerSchool Holdings, LLC and PeopleAdmin, LLC entered into a $100 million incremental term facility under its credit agreement dated Aug. 1, 2018 with Barclays Bank plc as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.
The borrowers expect to use the proceeds of the incremental term loans to finance PowerSchool’s previously announced $300 million acquisition of SchoolMessenger from West Technology Group.
PowerSchool is a Folsom, Calif.-based provider of cloud-based software for K-12 education. SchoolMessenger is a provider of K-12 communication tools.
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