SonicWALL To Be Acquired By Investor Group
SonicWALL has agreed to be acquired by an investor group led by Thoma Bravo in a deal worth around $717 million.
According to the latest WSJ headlines, Network security systems provider SonicWALL, Inc. said it has agreed to be acquired by an investor group led by private equity firm Thoma Bravo in a deal worth around $717 million. The WSJ.com also reported that SonicWALL said its shareholders will receive $11.50 in cash for each share of common stock they hold.
"'Our agreement with Thoma Bravo represents an attractive valuation for our shareholders, and we look forward to closing the transaction as quickly as possible,' SonicWALL President and Chief Executive Matthew Medeiros said in a statement.
"Thoma Bravo Vice President Robert Sayle said in a statement the deal will accelerate the company's organic growth strategy and allow it to pursue consolidation in the network security market."