Thursday, June 3, 2010

SonicWALL Acquired By Private Equity Group For $717M

San Jose-based SonicWALL, a developer of IT security products, said late last night that it has reached an agreement to be acquired by an investor group led by Thoma Bravo, in a deal worth $717M. According to SonicWALL, its shareholders will received $11.50 in cash for each share of SonicWALL common stock. The private equity group includes Thoma Bravo and the Ontario Teachers' Pension Plan. SonicWALL said it was advised by Centerview Partners in the deal, along with Fenwick & West LLP. Thoma Bravo was advised by Kirkland & Ellis LLP.