Depending on news flow next week, this may well be our last weekly recap for 2019, so we wish you all a safe and happy holiday season! Last week, media reports indicated that LogMeIn (LOGM) was set to be acquired by affiliates of private equity firm Francisco Partners and Elliott Management in a deal valued at over $4.0 billion.
Read MoreInstructure’s (INST) plan to be taken private by Thoma Bravo for $47.60 per share in cash faced further resistance this week as 7.5% shareholder Praesidium Investment Management issued an open letter to the Board of Directors expressing its view that the purchase price undervalues the company.
Read MoreWith the holiday season upon us and a new year fast approaching, we were hit by a blizzard of news this week. After formally announcing a review of strategic alternatives in mid-November and cancelling a financial analyst day previously scheduled for this past week, Instructure (INST) agreed to be taken private by Thoma Bravo for $47.60 per share in cash, representing a TTM EV/Sales multiple of 7.6x.
Read MoreCarbonite (CARB), a provider of data protection services and endpoint security, has agreed to be bought by OpenText (OTEX) for $23.00 per share in cash, a 25% premium to the last closing price preceding the announcement and a 78% premium to the unaffected closing price on the day prior to reports that the company was considering a sale.
Read MoreEarnings, earnings and more earnings largely sums up the week. Within our coverage universe, NetScout Systems (NTCT) posted fiscal Q2 results ahead of expectations and guided Q3 above consensus, sending shares up 10% on the week.
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