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Confluence Technologies to take StatPro private in £161M all-cash deal

Confluence Technologies agreed to buy listed asset management data firm StatPro Group PLC for 230 pence a share in cash, valuing StatPro at £161.1 million.

StatPro said in a stock exchange announcement that the acquisition price was a 54.9% premium to its 148.5 pence a share Sept. 19 closing price.

Confluence is buying StatPro through a subsidiary, Ceres Bidco Ltd. Confluence is ultimately controlled by funds managed and advised by private equity firm TA Associates Management LP.

The deal is scheduled to complete in the fourth quarter.

Marlin & Associates is serving as financial adviser to StatPro, while Panmure Gordon is acting as financial, rule 3 and nominated adviser and broker. Oakley Advisory is serving as financial adviser to Confluence and Ceres Bidco.

K&L Gates LLP is providing legal advice to Ceres Bidco, and Fieldfisher LLP is providing legal advice to StatPro.