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US Cybersecurity Company Imperva Agrees to USD 2.1bn Thoma Bravo Buyout
Thursday 11 October 2018

11 October 2018 - California, US-based cybersecurity solutions provider Imperva, Inc. (NASDAQ: IMPV) has entered into a definitive agreement to be acquired by leading private equity technology investment firm Thoma Bravo, LLC, the company said.

Upon the close of the transaction, Imperva will operate as a privately-held company with the flexibility to focus on execution and drive to be a world-class profitable growth company.

Under the terms of the agreement, Imperva stockholders will receive USD 55.75 per share in cash in a transaction valued at approximately USD 2.1bn.

Imperva's board of directors unanimously approved the agreement and believes the transaction will maximize stockholder value.

The company will maintain its corporate headquarters in Redwood Shores, California and continue to be led by its current executive team.

Imperva stockholders will receive USD 55.75 per share in cash upon the closing. The transaction is valued at approximately USD 2.1bn and is currently expected to close late in 4Q18 or early in 1Q19, subject to approval by Imperva's stockholders and regulatory authorities and the satisfaction of customary closing conditions.

The merger agreement provides for a 45-day "go-shop" period, during which Imperva's Board and advisors may actively solicit alternative acquisition proposals and enter into negotiations with other parties. During this period, Imperva will have the right to terminate the merger agreement to enter into a superior proposal subject to the terms and conditions of the merger agreement.

Imperva is a leading cybersecurity company that delivers best-in-class solutions to protect data and applications - wherever they reside - on-premises, in the cloud, and across hybrid environments.

The company's Incapsula, SecureSphere, and CounterBreach product lines help organizations protect websites, applications, APIs, and databases from cyberattacks while ensuring compliance.

Imperva innovates using data, analytics, and insights from our experts and our community to deliver simple, effective and enduring solutions that protect our customers from cybercriminals.

Thoma Bravo is a private equity firm focused on the software and technology-enabled services sectors.

Qatalyst Partners is acting as financial advisor to Imperva and Fenwick and West LLP is serving as Imperva's legal advisor. Kirkland and Ellis LLP is serving as legal advisor to Thoma Bravo.
Date Published: 11/10/2018
Target: Imperva, Inc
Country: USA
Deal Size: 2.1bn (USD)
Sector: Computer Software
Type: LBO
Financing: Cash
Status: Agreed
Buyer: Thoma Bravo
Buyer Advisor: Kirkland and Ellis