Priority Technology agreed to be acquired by an investor group led by Chairman and CEO Thomas Priore in a transaction valued at about $1.6 billion. The CEO-led buyout gives Priore and the participating investors an opportunity to take the company private after its public-market period. The deal also represents another consolidation step in the business-services and technology sector, where established providers are using private capital to restructure operations and pursue longer-term expansion outside public markets. Final closing remained subject to customary conditions.
Source: https://www.msn.com/en-us/money/technology/priority-technology-to-go-private-in-1-6-billion-ceo-led-deal/ar-AA2cFSPB