The Strategist

Thoma Bravo offers to buy Symantec

11/07/2018 - 11:32

American Symantec, one of the leading developers of computer programs for data security, received an acquisition offer from direct investment company Thoma Bravo, reports The Financial Times, citing informed sources.

mmckeay via flickr
mmckeay via flickr
According to media reports, Thoma Bravo intends to delist Symantec shares once the deal is signed.

The Financial Times, Reuters and CNBC failed to set a proposed takeover price. The capitalization of Symantec now amounts to about $ 14.4 billion. The deal could be one of the largest LBOs (acquisition of a company with borrowed funds) since the 2008 financial crisis.

According to analysts at Wedbush, Symantec’s shares within the deal can be priced from $ 26 to $ 30, which means a premium of 30-50% of the closing price on November 5 - the last trading day before rumors of the possible acquisition appeared. Following the session on November 6, Symantec share quotes jumped 12.6% to $ 22.54.

The investment company Thoma Bravo has been actively investing in cyber security in recent years. For example, earlier this year, it acquired Barracuda Networks, which specializes in cloud solutions to protect email, web applications, and instant messaging services, for $ 1.6 billion. And this week, Thoma Bravo announced purchase of a security testing company, Veracode, which is engaged in applications testing, for $ 950 million.


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