The private equity firm Thoma Bravo, LLC has announced (10/11/2018) they are acquiring NASDAQ traded cybersecurity firm Imperva for $55.75 per share in cash. Imperva develops DDoS protection (Incapsula), database security, (SecureSphere), and Breach prevention (CounterBreach) product lines — which protect websites, applications, APIs, and databases from cyberattacks while ensuring compliance.
For its third quarter of 2018, Imperva expects to generate revenues of $90.0 million to $92.0 million, the company revealed. The $21.B purchase further consolidates the PE firm’s role in the cybersecurity software and technology market. Thoma Bravo most recently purchased Barracuda Networks and owns a number of other software and technology firms including:
The purchase is not a done deal yet. The merger agreement provides for a 45-day “go-shop” period, during which Imperva’s Board and advisors may actively seek alternative acquisition proposals and enter into negotiations with other parties, the announcement disclosed.
Under terms of the Thoma Bravo deal, Imperva will delist and operate as a privately held company. The firm will keep its corporate headquarters in Redwood Shores, California, and continue to be led by its current executive team, both companies indicated.
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Thoma Bravo is acquiring quite a tech portfolio.
Most recently they bought Apttus Corp., a contract lifecycle and digital commerce solution provider. Their portfolio has included brands such as:
- Blue Coat Systems,
- Bomgar,
- Compuware,
- Digicert,
- Digital Insight,
- Dynatrace,
- Hyland Software,
- iPipeline,
- LANdesk Software,
- McAfee,
- Nintex,
- PlanView,
- Qlik,
- SailPoint and
- SonicWall.
Ralph Bach has been in IT long enough to know better and has blogged from his Bach Seat about IT, careers, and anything else that catches his attention since 2005. You can follow him on LinkedIn, Facebook, and Twitter. Email the Bach Seat here.