KKR invests $500 million in cloud storage firm Box, gets board seat

FILE PHOTO: FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo

(Reuters) -Box Inc said on Thursday private equity giant KKR & Co Inc would lead a $500 million investment in the company and get a board seat, marking an end to the cloud services provider's strategic review.

The KKR-led investment will be executed through convertible preferred stock and comes weeks after Reuters reported that Box was exploring a sale amid pressure from hedge fund Starboard Value LP over its stock performance.