Visa Equity Partners to Pay $907M for Websense

by Christopher Freeburn | May 20, 2013 10:20 am

Visa Equity Partners to Pay $907M for Websense

CyberSecurity 300x227 Visa Equity Partners to Pay $907M for Websense[1]Online security service provider Websense (WBSN[2]) said that will be acquired[3] 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[4]) Merrill Lynch division.

Visa Equity Partners will finance the acquisition with loans from JPMorgan Chase (JPM[5]) and the Royal Bank of Canada‘s (RY[6]) RBC Capital Markets.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/03/CyberSecurity.jpg
  2. WBSN: http://studio-5.financialcontent.com/investplace/quote?Symbol=WBSN
  3. will be acquired: http://www.reuters.com/article/2013/05/20/net-us-websense-offer-idUSBRE94J0DI20130520
  4. BAC: http://studio-5.financialcontent.com/investplace/quote?Symbol=BAC
  5. JPM: http://studio-5.financialcontent.com/investplace/quote?Symbol=JPM
  6. RY: http://studio-5.financialcontent.com/investplace/quote?Symbol=RY

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