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Shares of Sophos Group PLC soared 37% in London on Monday after U.S. private equity group Thoma Bravo said it would take the British cybersecurity company private in a $3.8 billion deal.
Sophos SOPH, +35.98% shareholders will receive $7.40 in cash (583 pence) per share, a 37.1% premium to the company’s closing share price of 425.5 pence on Friday.
The deal, which values Sophos at around $3.948 billion, including debt, comes four years after buyout group Apax Parners floated the company for around $1.26b billion.
