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Francisco Partners agrees SaaS analytics platform deal

Affiliates of Francisco Partners, a global investment firm that specialises in tech sector investments, have agreed to acquire Sumo Logic, a SaaS analytics platform, in an all-cash transaction that values the business at around $1.7 billion.

Affiliates of Francisco Partners, a global investment firm that specialises in tech sector investments, have agreed to acquire Sumo Logic, a SaaS analytics platform, in an all-cash transaction that values the business at around $1.7 billion.

Under the terms of the deal, Sumo Logic stockholders will receive $12.05 per share, representing a premium of approximately 57% to the company’s unaffected closing stock price on 20 January, 2023, the last full of trading day prior to media reports of a possible acquisition. 

The transaction, which was unanimously approved by the Sumo Logic Board, is expected to close in the second calendar quarter of 2023, subject to customary closing conditions, including approval by Sumo Logic stockholders and the receipt of required regulatory approvals.

Morgan Stanley & Co. LLC is serving as sole financial advisor to Sumo Logic, and Wilson Sonsini Goodrich & Rosati, Professional Corporation is serving as legal counsel.

Kirkland & Ellis LLP is serving as legal counsel to Francisco Partners.

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