Mergers and Acquistions News
Categories: Software
May 18th 2010, 15:21PM
Vision Solutions, a portfolio company of Thoma Bravo, has agreed to acquire Double-Take Software in a transaction with an estimated value of $242 million (£167 million).
Double-Take is a provider of software for recoverability, data replication, application availability and system state protection.
Under the terms of the deal, Double-Take's stockholders will receive $10.55 (£7.28) in cash per share of common stock, which represents a premium of 39 per cent on the company's enterprise value on April 9th.
Nicolaas Vlok, president and chief executive officer of Vision Solutions, said the company plans to increase its innovation capabilities as a result of the acquisition.
"The offer for Double-Take Software underscores our focus to provide customers with the best information availability products and the most exceptional support and service in the industry," he added.
Vision Solutions announced the release of its RecoverNow V5.1 disaster recovery offering, which automatically captures data and object changes that occur between tape saves.
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