Imperva has announced that it is to be acquired by Thoma Bravo, in a deal valued at approximately $2.1 billion.
The deal was announced along with the release of Imperva’s preliminary Q3 results, on the basis of which Imperva expects to report total revenue between $90-92 million. It’s expected to close late in Q4 2018 or early in Q1 2019, subject to approval by regulatory authorities and Imperva’s stockholders.
“Thoma Bravo has long admired Imperva’s innovative products and strong market position,” said Seth Boro, a Managing Partner at Thoma Bravo. “Imperva is ahead of the curve from the rest of the cybersecurity industry, and we’re thrilled with this exciting partnership.”
Thoma Bravo has an excellent track record of supporting and adding value to leading cybersecurity companies, and we are delighted to bring on a partner with their caliber of strategic expertise.
– Chris Hylen, President and CEO, Imperva
When the deal closes, Imperva stockholders will receive $55.75 per share in cash, and Imperva will operate as a privately-held company, with no changes expected to its current executive team and corporate headquarters.
“Thoma Bravo has an excellent track record of supporting and adding value to leading cybersecurity companies, and we are delighted to bring on a partner with their caliber of strategic expertise,” said Chris Hylen, Imperva’s president and CEO. “This transaction will provide immediate and substantial value to Imperva stockholders. The company will have greater flexibility to focus on executing our long-term strategy. We are excited to begin our partnership with Thoma Bravo.”
Imperva is ahead of the curve from the rest of the cybersecurity industry, and we’re thrilled with this exciting partnership.
– Seth Boro, Managing Partner, Thoma Bravo
Imperva joins Thoma Bravo’s already-impressive portfolio of cybersecurity providers, with recent examples including its acquisition this summer of majority interests in LogRhythm and Centrify, as well as investments in companies such as Blue Coat Systems, Bomgar, SonicWall, SailPoint, Barracuda Networks and SolarWinds.
“Digital transformations are occurring in virtually every industry and at accelerating speeds. Software applications and data are at the epicenter of this new digital economy and are increasingly under cyberattack. We believe Imperva’s market leading technology will continue to play a huge role in protecting the broader digital economy,” said Chip Virnig, a Partner at Thoma Bravo. “Our expertise and track record investing in cybersecurity fits squarely with Imperva’s long-term roadmap, and we look forward to advancing the Company’s market position in this rapidly-growing security segment.”