Funds affiliated with Crosspoint Capital Partners have agreed to pay $667 million to acquire all of the issued and outstanding common shares of Absolute Software, a provider of “self-healing, intelligent security solutions”.
Under the terms of the deal, Absolute shareholders will receive $11.50 per Common Share in cash on completion of the acquisition, corresponding to an enterprise value of approximately $870 million, inncluding debt.
The cash consideration represents a premium of 34% and 38% to the closing price and 30-day volume-weighted average price, respectively, of the Common Shares on the Nasdaq on 10 May, 2023.
