Vista Equity Partners (Vista) is to acquire KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platforms, in an all-cash transaction valued at approximately $4.6 billion on an equity value basis.
Under the terms of the merger agreement, KnowBe4 stockholders will receive $24.90 per share in cash upon completion of the proposed transaction. The per share purchase price represents a 44 per cent premium to the Company’s unaffected closing price on September 16, 2022, the last full trading day before Vista publicly disclosed its initial non-binding acquisition proposal on its Schedule 13-D.
As disclosed by KnowBe4 in a press release dated 19 September, 2022, an independent Special Committee of KnowBe4’s Board of Directors (the “Special Committee”) was formed to review this proposal and other potential value creation opportunities.
