Investment funds Thoma Bravo and Silver Lake Management have joined the race to acquire data security company Imperva Inc. (NYSE: IMPV), "Bloomberg" reports. The two buyout funds have joined IBM and Cisco, which have also reportedly shown interest.
Imperva shares jumped 11% in New York trading, giving the company a market cap of $1.7 billion, although it ended the session down 1.9%.
Imperva, founded by Shlomo Kramer in 2002 and managed by CEO Anthony Bettencourt, provides organizations with information security solutions. The company is headquartered in Redwood Shores, California and has offices in Tel Aviv and Rehovot.
Elliott Management Corp. has built a 10.9% stake in Imperva and is talking about “strategic and operational opportunities.” Imperva hired specialist technology advisory firm Qatalyst Partners in August to carry out a “comprehensive review of strategic alternatives,” Bloomberg reports.
Spokesmen for Cisco, Imperva, IBM and Silver Lake declined to comment. Spokesmen for Thoma Bravo and Qatalyst didn’t respond to e-mail requests from "Bloomberg."
Published by Globes [online], Israel business news - www.globes-online.com - on October 13, 2016
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