Mergers and Acquistions News
Categories: IT Services & Consulting
July 10th 2009, 15:06PM
Digital information security software firm Entrust has announced that it has entered into an amendment to its merger agreement with private equity investment company Thoma Bravo.
Under the terms of the amended agreement, an affiliate of Thoma Bravo will acquire all the outstanding shares of Entrust common stock for $2 (£1.23) per share in cash, in a transaction with an estimated value of $124 million (£76.6 million).
The amendment represents an increase of more than eight per cent over the terms of the original purchase price considered in April and a premium of over 32 per cent of Entrust's average closing price during the 30 trading days leading to the announcement of the merger.
Michael McGrath, chairman of the board of Entrust, said the new agreement reflects Thoma Bravo's commitment to the transaction while providing greater value to stockholders.
"This transaction is compelling for our company, our customers, and our employees and we look forward to benefiting from Thoma Bravo's expertise as we continue to increase our focus on key platforms," he commented.
In June Entrust announced IdentityGuard 9.2, which combines hosted PKI solutions with authentication platforms for increased security.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)
- May 2011 (20)
- April 2011 (18)
- March 2011 (21)