Blackline Safety (BLN) is going private in a deal valuing the company between $800-850M based on certain performance milestones, representing a ~30% premium - but still a discount to its historical valuation…

… which was never revisited after some pandemic-induced margin pressure. The company’s unit economics have since recovered and then some, driven by outsized growth in services…

… which are more profitable than the product sale that starts the relationship. Like the $280M Gamehost takeout a couple weeks ago, private capital is betting that growth will continue - with upside from international markets.