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Vista Equity Partners is in advanced talks to acquire KnowBe4 (NASDAQ:KNBE) for $4.5 billion in a leveraged buyout, the Wall Street Journal reports.
The deal values KNBE shares at almost $25 each, representing a premium of about 15% compared to Tuesday’s closing price of $21.59.
The report comes after the company confirmed last month it had received a nonbinding proposal from Vista. KNBE shares soared almost 30% on the statement after Vista was said to offer $24 a share, a nearly 40% premium compared to the closing price on the last day before the announcement.
The deal is expected to be confirmed later today, the WSJ report further noted and would make KnowBe4 the third take-private deal agreed by the private equity firm this year. Vista previously agreed to pay $8.4 billion for Avalara (NYSE:AVLR) and $16.5 billion for Citrix Systems (NASDAQ:CTXS).
Vista Equity Partners managed nearly $95 billion, according to its website.
KnowBe4 shares are up over 11% in pre-open Wednesday to trade at just over $24 a share.
