KKR & Co. has announced a definitive agreement to acquire Instructure Holdings, a leading education software provider, in an all-cash transaction valued at approximately $4.8 billion. The purchase price of $23.60 per share represents a 16% premium over Instructure's share price prior to reports of the deal. Instructure, known for its Canvas learning management system, impacts around 200 million learners across over 100 countries and aims for $1 billion in revenue by 2028. The deal, with participation from Dragoneer Investment Group, will see Instructure become a privately held company after closing later this year, pending stockholder approval. Instructure's management, led by CEO Steve Daly, will continue to operate the company post-acquisition, with KKR committed to supporting its growth strategy. The acquisition marks a significant shift as Instructure transitions from public to private ownership again, following its IPO in 2015 and subsequent privatization by Thoma Bravo in 2019.