KKR (NYSE: KKR) has emerged as the leading contender to acquire Instructure Holdings Inc., according to Bloomberg News. The deal could value the education software provider at approximately $4.7 billion, including debt.

KKR is competing with Francisco Partners for control of Instructure and is reportedly discussing an offer of about $24 per share. Instructure, founded in 2008, offers software that assists schools and teachers in planning learning schedules and monitoring student performance.

Thoma Bravo took Instructure private in 2020 and relisted it the following year. The potential acquisition by KKR highlights the ongoing interest in the education technology sector.