Mergers and Acquistions News
Categories: IT Services & Consulting, Software
June 3rd 2010, 16:14PM
IT security firm SonicWALL has agreed to a takeover bid from a Thoma Bravo-led investor group in a deal worth $717 million (£488 million).
Thoma Bravo, a private equity business that specialises in investing in software firms, offered a 28 per cent premium on the shares that was accepted unanimously by the SonicWALL board.
Robert Sayle, a vice president at Thoma Bravo, said: "We look forward to working with SonicWALL to accelerate the company's organic growth strategy and to pursue a consolidation strategy in the network security market as well as adjacent markets."
SonicWALL's president and chief executive officer Matthew Medeiros said the agreement represented an attractive valuation for the shareholders and looked forward to completing the deal as soon as possible.
Recently, Vision Solutions, a portfolio company of Thoma Bravo, agreed to acquire Double-Take Software in a transaction worth an estimated $242 million (£167 million).
Double-Take is a provider of software for recoverability, data replication, application availability and system state protection.
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)