Bain Capital acquires PowerSchool Holdings, a K-12 education software provider, for $5.6bn.

Private equity firm Bain Capital has agreed to buy PowerSchool Holdings, a K-12 education software provider, for $5.6 billion. PowerSchool's cloud-based software helps with teacher assessments, hiring, and learning management, and its customers include most of the largest US school districts. Post-transaction, PowerSchool will operate as a privately-held company and shares will no longer be publicly listed on the NYSE.