Blackline Safety to be taken private by Francisco Partners for up to $850 million

April 8 (Reuters) - Canada's Blackline Safety BLN.TO has agreed to be taken private by U.S. private equity firm Francisco Partners in a deal valued at up to $850 million, including a contingent payout tied to future revenue growth, the safety technology company said on Wednesday.

• Blackline's shareholders will receive $9.00 in cash per share when the deal closes in the second quarter of 2026, plus a contingent value right (CVR) of up to $0.50 per share if it meets certain annualized recurring revenue (ARR) targets by October 2027.

• The deal values the Calgary-based company at approximately $804 million on a fully diluted basis, which could rise to about $850 million if the CVR is fully paid, Blackline said.

• Excluding the contingent payment, the offer represents a 26.5% premium to Blackline's closing price of $7.11 per share on April 7, as per Reuters' calculations.

• The CVR payments depend on Blackline achieving at least $145 million in ARR in October 2027. Shareholders will receive the full $0.50 per share if the ARR reaches $148.9 million or more.

• In the first quarter of fiscal year 2026, Blackline recorded an ARR of $90.5 million.

• Blackline offers safety monitoring software, wearable devices and real-time data services to protect workers in hazardous and industrial environments.