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Thoma Bravo acquiring Imperva
Posted on Wednesday, 10 October 2018 14:38
Private equity investor Thoma Bravo has agreed terms to acquire Imperva, a Nasdaq-listed provider of cybersecurity services.
Under the terms of the transaction, the buyer will pay USD 55.75 per item of stock in the company, thereby valuing the deal at USD 2.10 billion.
The bid represents a 29.5 per cent premium to the target’s close of USD 43.06 on 9th October, the last trading day prior to the deal being announced.
It has already received the unanimous seal of approval from Imperva’s board, who believe it will generate value for shareholders.
Imperva chief executive Chris Hylen added that the deal will give the company more flexibility to carry out its long-term strategy.
Completion is slated to follow late in 2018 or early in the first quarter of next year, once approval has been received from the target’s shareholders and regulatory bodies.
Following closing, Imperva will continue to operate from its existing headquarters in California, while its current executive team will remain at the helm.
Chip Virnig, a partner at Thoma Bravo, stated: We believe Imperva’s market leading technology will continue to play a huge role in protecting the broader digital economy.
“Our expertise and track record investing in cybersecurity fits squarely with Imperva’s long-term roadmap, and we look forward to advancing the Company’s market position in this rapidly-growing security segment.”
Imperva has also released its preliminary financials for the third quarter of 2018; it expects to report total revenue of between USD 90.00 million and USD 92.00 million for the three months, while billings ranging from USD 103.00 million to USD 105.00 million are anticipated.
Established in 2002, Imperva describes itself as a leading provider of data and application security products, designed to protect business-critical information, both via the cloud and on-premises.
The company’s customer base numbers over 5,200 and it has a presence in more than 100 countries worldwide.
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