Websense Surprises With $1 Billion Buyout
Data security software vendor Websense announced this week a plan to be acquired by private equity firm Vista Equity Partners in a $24.75-per-share deal valued at roughly $1 billion.
In contrast to Dell's increasingly complicated efforts to go private, the Websense deal disclosed Monday followed some obviously quiet negotiating. The Websense board of directors has already approved the deal, and it's now up to stockholders to tender their shares. The transaction is expected to close before the end of this year's third quarter.
The deal "provides stockholders with immediate and substantial cash value that reflects our assessment of the fair value of the company," said chairman John Carrington in a statement. Websense senior management is expected to remain with the company, and its headquarters will remain in San Diego.