Infoblox to Be Taken Private in $1.6 Billion Deal
September 19 2016 - 9:40AM
Dow Jones News
Network security provider Infoblox Inc. has agreed to be taken
private by Vista Equity Partners in a $1.6 billion deal after a
four-year run as a publicly traded company.
The transaction, at $26.50 a share in cash, represents a 73%
premium to Infoblox's closing price on May 11, when media reports
of Infoblox potentially being acquired were first published. It is
a 16% premium to the stock's closing price on Friday.
Shares rose 15% to $26.26 in premarket trading Monday.
Santa Clara, Calif.-based Infoblox went public in 2012. In
February, it purchased Internet Identity, a cybersecurity company
that does business as IID, for $40 million in cash. After it gave a
downbeat revenue forecast in May, the company cut 110 jobs, or 12%
of its workforce in June.
Infoblox expects the Visa Equity transaction, unanimously
approved by Infoblox's board, to close in its fiscal second
quarter, which ends in January.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
September 19, 2016 09:25 ET (13:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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