Press Release

Thoma Bravo and Sunstone Partners Complete Acquisition of UserTesting

SAN FRANCISCO – January 12, 2023 – UserTesting, Inc., a leader in video-based human insight, today announced the completion of its acquisition by Thoma Bravo, a leading software investment firm, and Sunstone Partners, in an all-cash transaction valued at approximately $1.3 billion. The agreement to be acquired was previously announced on October 27, 2022 and approved by UserTesting stockholders at the Special Meeting of Stockholders held on January 10, 2023.

With the completion of the transaction, UserTesting stockholders are entitled to receive $7.50 per share in cash for each share of UserTesting common stock they owned. UserTesting’s common stock has ceased trading and will be delisted from the New York Stock Exchange. 

As previously announced, UserTesting will be combining with UserZoom, which Thoma Bravo acquired majority control of in April 2022. UserTesting’s CEO, Andy MacMillan, will lead the combined company.


Morgan Stanley & Co. LLC served as exclusive financial advisor and Fenwick & West LLP served as legal counsel to UserTesting. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo and Goodwin Procter LLP served as legal counsel to Sunstone Partners. Jefferies LLC served as financial advisor to Thoma Bravo and Sunstone

Media Contact

UserTesting, Inc.
Andy Dear 

About UserTesting

UserTesting is fundamentally changing the way digital products and experiences are built and delivered by helping organizations get insights from customers–from concept to execution. Built on top of a world-class, on-demand sourcing