Alight Solutions and Foley Trasimene Acquisition today announced that they have entered into a definitive business combination agreement.
Upon closing, the combined company will operate as Alight and plans to list under the symbol ALIT. The transaction reflects an implied pro-forma enterprise value for Alight of approximately $7.3 billion.
Alight is a cloud-based provider of integrated digital human capital and business solutions.
The cash component of the consideration will be funded by the SPAC’s cash in trust, $300 million in proceeds from the forward purchase agreements with Cannae Holdings and THL FTAC LLC, an affiliate of Thomas H. Lee Partners, as well as a $1.55 billion private placement from various institutional and private investors.
Foleyt Trasimene raised $750 million in an IPO last year. That amount held in trust, combined with the $300 million in forward purchase agreements and $1.55 billion in private placements brings the Alight acquisition price to about $3.05 billion. Read more.
