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Cybersecurity company Imperva said on Wednesday it will be taken private by Thoma Bravo in an all-cash deal valued at $2.1 billion, adding to the technology-focused buyout firms portfolio of cybersecurity companies.
Private equity and venture capital firms are pouring money into the cybersecurity industry, driven by heightened concerns of cyber attacks.
Imperva stockholders will receive $55.75 per share in cash, which represents a premium of 29.5 percent to the company's closing stock price on Tuesday.
The deal is expected to close in the fourth quarter of 2018 or early in the first quarter of 2019. Imperva will continue to be led by its current executive team, the company said.
Thoma Bravo has already invested in other cyber security firms such as DigiCert, Bomgar, and LogRhythm. In July, Reuters reported that the private-equity firm would buy a majority stake in cybersecurity firm Centrify.
Qatalyst Partners is acting as financial adviser to Imperva, based in Redwood Shores, California, and Fenwick & West is serving as legal adviser. Kirkland & Ellis is serving as legal adviser to Thoma Bravo.