Monday, April 13, 2009

Entrust Goes Private In $114M Deal

Dallas-based network security company Entrust announced this morning that it has agreed to be acquired by an affiliate of Thoma Bravo LLC, a private equity investment firm. According to Entrust, its shareholders will receive $1.85 in cash for each share of Entrust common stock, which represents a 22.4 percent premium over Entrust's average closing share price of $1.51 during the 30 trading days ending April 9. Entrust noted that the total equity value of the transaction will be some $114 million. Entrust added that its board of directors has approved the merger and will recommend that shareholders do likewise.