Thoma Bravo LLC agreed to buy cybersecurity company Imperva Inc. in a deal valued at approximately $2.1 billion.
The transaction would see the software and technology-focused private equity firm paying $55.75 per share in cash to Imperva stockholders.
The planned acquisition, which was unanimously approved by Imperva's board, is still subject to approvals by Imperva's stockholders and regulatory authorities. It is expected to be completed late in the fourth quarter of 2018 or early in the first quarter of 2019.
The agreement grants Imperva a 45-day "go-shop" period, during which it may still solicit alternative proposals, enter into negotiations with other potential buyers and terminate the merger deal in favor of a superior proposal.
Imperva will keep its headquarters in Redwood Shores, Calif., and will operate as a privately held company led by its existing executive team.
Qatalyst Partners was the financial adviser to Imperva, while Fenwick & West LLP was its legal adviser. Kirkland & Ellis LLP was the legal adviser to Thoma Bravo.