Visa Equity Partners to Pay $907M for Websense
It was one of several bidders for the digital security firm
Online security service provider Websense (WBSN) said that will be acquired by a private equity firm. Not surprisingly, it’s shares jumped more than 28% in Monday morning trading.
Websense announced that Visa Equity Partners would pay $24.75 a share to purchase the company. At that price, Visa Equity Partners will pay a 29% premium over Websense’s Friday closing price, valuing the deal at about $907 million, Reuters notes.
Websense said its board had considered offers from “several potential acquirers.” The company was advised by Bank of America‘s (BAC) Merrill Lynch division.
Visa Equity Partners will finance the acquisition with loans from JPMorgan Chase (JPM) and the Royal Bank of Canada‘s (RY) RBC Capital Markets.
Article printed from InvestorPlace Media, http://investorplace.com/2013/05/visa-equity-partners-to-pay-907m-for-websense/.
©2016 InvestorPlace Media, LLC