An earlier version of this report had an incorrect price to be paid by Thoma Bravo per Talend share. It has been corrected.
French data management company Talend SA TLND, +27.52% said Wednesday it has entered a memorandum of understanding with private-equity firm Thoma Bravo to be acquired in a $2.4 billion deal. Under the terms of the deal, Thoma Bravo will pay $66 per ordinary share and American Depositary Share in cash, equal to a premium of 29% over Talend’s closing price on March 9 and an 81% premium to the volume weighted average price over the last twelve months. “Data has become critical to every facet of the world, and Talend’s data fabric empowers organizations to operationalize their data,” said Chip Virnig, a Partner at Thoma Bravo, in a statement. The agreement includes a 30-day “go-shop” period that expires April 10 and allows Talend to solicit other bids. Thoma Bravo will launch a tender offer as soon as works council consultations have been completed and the board recommends it. That is expected to close in the third quarter. Talend ADS were halted premarket for the news, but have gained 78% in the last 12 months, while the S&P 500 SPX, +0.80% has gained 41%.
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