U.S. private equity giant Francisco Partners agreed to pay up to $9 per share for the Calgary-based company when the deal closes, with the potential to pay another 50 cents per share if Blackline meets certain milestones. The company didn’t specify the currency of the transaction. (The Logic)

Talking point: Blackline, which trades on the Toronto Stock Exchange, makes wearable safety devices and monitoring software designed to detect workplace hazards, such as gas leaks or falls. The company uses a subscription model to sell its services, with annual recurring revenue reaching $90.5 million in its most recent quarter, up 28 per cent year over year. In a press release, CEO Cody Slater said going private will give the firm the money and expertise it needs to grow and “strengthen our technology leadership.” Blackline is the latest in a string of Canadian tech firms to leave the public markets for capital and flexibility to scale their business. The company’s share price was up more than 25 per cent on the news Wednesday.