Imprivata Inc (NYSE:IMPR) shares were up 31.10% to $19.01 after the company issued a press release on agreeing to be acquired by private equity firm Thoma Bravo, LLC. The company has a market cap of $485.83 million at 25.33 million shares outstanding. Shares have been trading in a 52-week range of $9.00 to $21.63.
Imprivata is a company that is engaged in providing healthcare information technology solutions. It is primarily focused on security and identity management solutions for the healthcare sector. Its security and identity platform provides authentication management, fast access to patient information, secure communications and positive patient identification products to the healthcare industry.
In a press release, the company disclosed that it has agreed to be acquired at $19.25 per share or a total of $544 million in an all-cash deal, representing a 33% premium over the stock’s closing price on Tuesday.
We’re tremendously excited about Thoma Bravo’s investment in our company and believe this transaction represents a great outcome for our current shareholders,” said Imprivata CEO and President Omar Hussein. “Given Thoma Bravo’s successful track record in both security and healthcare IT, today’s partnership is an endorsement of Imprivata’s corporate vision and our relentless focus on the customer experience — a value which has established us as the vendor of choice in healthcare IT security.
Thoma Bravo currently has about $17 billion in assets under management. A timeline for the deal wasn’t disclosed, as it is still pending regulatory and shareholder approval.
Thoma Bravo partner Scott Crabill shared that Imprivata is clearly positioned as the strongest vendor in compliant security technology in the healthcare sector. He added that the company has the opportunity to expand s market presence by providing additional high-value products to its customers. The private equity firm typically invests in application and infrastructure software and technology-enabled services.
DISCLAIMER: There is a substantial risk of loss with any speculative asset, especially small cap stocks. The opinions expressed are those of the author, and do not constitute recommendations to buy or sell a stock. Do your own research before committing capital.