Finally a deal in the cyber security space. I suspect this bid will stoke interest in the sector, one that has been bereft of common decency, especially in the shares of FEYE.
The co announced that it has entered into a definitive agreement to be acquired by Vista Equity Partners, a leading private equity firm focused on software, data and technology-enabled businesses. Under the terms of the agreement, Infoblox stockholders will receive $26.50 per share of common stock in cash, which represents a 33% premium to Infoblox’s average closing share price over the last 60 trading days, and a 73% premium to Infoblox’s unaffected closing price as of May 11, 2016, when media reports of interest in acquiring Infoblox were first published. The transaction values Infoblox at approximately $1.6 billion. The agreement was unanimously approved by Infoblox’s Board of Directors.
Infoblox’s Board of Directors received and thoroughly evaluated multiple indications of interest before deciding to proceed with this transaction. The transaction is expected to close in Infoblox’s fiscal second quarter, subject to customary closing conditions and regulatory approvals.
Here is the sector, courtesy of Exodus.
My friend has been working at $BLOX for a while. He said they had an all hands meeting about this deal this morning.
Years ago there was a rumor HP was close to buying $FTNT. $FTNT would be my pick for the next acquisition.