Imperva has entered into a definitive agreement to be acquired by the technology-focused private equity firm Thoma Bravo for US$ 2.1 billion (£1.6 billion).
The deal, which will pay Imperva stockholders US$ 55.75 (£42.25) per share, will take the company private, which Imperva said will allow it to operate with more flexibility. Imperva’s board of directors unanimously approved the agreement and the company will maintain its corporate headquarters in Redwood Shores, California and continue to be led by its current executive team.
The deal is subject to approval by Imperva’s shareholders and regulatory authorities and is expected to close either in late 2018 or during the first quarter of 2019.
"Thoma Bravo has an excellent track record of supporting and adding value to leading cyber-security companies, and we are delighted to bring on a partner with their caliber of strategic expertise," said Chris Hylen, President and CEO of Imperva. "This transaction will provide immediate and substantial value to Imperva stockholders."