Websense to be acquired by private equity firm for $1 billion
Websense is to be acquired by private equity firm Vista Equity Partners for around $1 billion.
At a fee of $24.75 per share, the deal will make Websense a privately owned business. It is expected that it's current senior management team will remain in place and its headquarters will be based in San Diego.
John Carrington, chairman of the Websense board of directors, said that after detailed discussions with several potential acquirers, the board of directors was pleased to approve this agreement.
“Vista shares a similar vision for the company, including a dedication to developing and delivering best-in-class cyber security to our customers,” said John McCormack, Websense CEO.
“Vista brings an operational discipline that will enable us to continue to invest in the business and technology innovation.”
Robert F. Smith, CEO and founder of Vista Equity Partners, said: “We are long-term investors in enterprise software and data companies that are committed to being leaders in their markets.
“We are impressed with Websense's market-leading product suite and the compelling value proposition it offers to its customers. We look forward to working with the company to enable it to reach its full potential.”