The world leader in providing security to organizations from the recent data theft and cyber attacks, Websense, Inc, disclosed that it got into a finalized acquisition agreement by the primary equity firm that concentrates on investments in data, software and technology based businesses, Vista Equity Partners.
According to Websense Chairman of the Board of Directors, John Carrington, "After detailed discussions with several potential acquirers, the Websense board of directors is pleased to approve this agreement.It provides stockholders with immediate and substantial cash value that reflects our assessment of the fair value of the company."
Stipulated in the terms of acquisition agreement, Websense stockholders will be receiving US$24.75 in cash per share of common stock which shows a premium of an estimated 29% higher compared to its closing price on the 17th of May 2013 and a 53% increase compared to the average closing price of Websense in the last 60 days.
The Board of Directors collectively proposed that the company's stockholders submit their shares in the bid offer.
"Vista shares a similar vision for the company, including a dedication to developing and delivering best-in-class cyber security to our customers," according to Websense Chief Executive Officer John McCormack. "Vista brings an operational discipline that will enable us to continue to invest in the business and technology innovation."
Join the Conversation