Mimecast will become a privately-owned company through a deal with Permira valuing the business at around $5.8 billion.
UK based Mimecast has been a publicly listed company for six years. It made its debut on the Nasdaq market in the US in 2015.
Permira will acquire all outstanding ordinary shares of Mimecast for $80 a-share in an all-cash transaction that represents a 16 percent premium on its closing stock price on 27 October 2021.
The deal is expected to close in the first half of 2022 but includes a 30-day “go-shop” period expiring 6 January 2022 in which Mimecast can actively search for alternate acquisition proposals.
For those not in the know, Permira is a UK-based private equity firm based in London which claims to have backed more than 280 businesses with €44 billion in committed capital.
The company backs cybersecurity distributor Exclusive Networks, which IPOed earlier this year, as well as vendors including Genesys, Informatica and Nexthink.
