Permira, a global investment firm, has completed its acquisition of website builder Squarespace in a deal worth $7.2 billion. This move takes Squarespace off the New York Stock Exchange, making it a private company again.

Squarespace, the popular website-building platform, is making waves with its decision to go private in a massive $6.9 billion all-cash deal with private equity firm Permira. After nearly three years of turbulence on the public market, this move comes as no surprise to industry insiders.