Narayan AmmachchiCustomer experience services provider TaskUs has announced plans to delist from the Nasdaq as part of a buyout deal valuing the company at $1.62 billion.
The move follows extensive discussions between TaskUs co-founders Bryce Maddock and Jaspar Weir and private equity firm Blackstone, a long-time investor with a substantial stake in the company.
Maddock and Weir will continue to lead the organization in their current roles as CEO and President, respectively. Blackstone is also injecting additional capital to support TaskUs’s next phase of growth.
The co-founders cited the transformative potential of artificial intelligence (AI) as a key driver behind the decision to go private. “The era of AI is upon us, and we are focused on addressing the changes it requires of our business – while helping our clients navigate their own transformations,” said Maddock.
They believe that operating as a private company will provide the flexibility to make longer-term investments necessary to stay ahead in an evolving AI-driven market, without the constraints of public market expectations.
TaskUs reported revenue of $995 million for 2024 and is projecting growth of 10% to 13% in 2025. The company’s agentic AI consulting unit is reportedly emerging as a high-margin, scalable offering that could position it strongly in the AI sector.
However, some market analysts argue the deal undervalues TaskUs by as much as 12% compared to consensus targets. There is speculation that the transaction may trigger investor lawsuits, with claims that it breaches fiduciary duties and opens the door for litigation-driven efforts to secure a higher valuation.
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