Time flies when you're having fun. A month ago, I told you that network security expert SonicWALL
Well, SonicWALL has indeed found a buyer -- but it's none of the usual suspects. Instead, the company is going private in a $11.50 cash deal per share. That's a 28% premium over last night's closing price, and my CAPS portfolio sure appreciates the quick boost.
The buyers, a consortium led by Thoma Bravo, aim to keep SonicWALL's organic growth going while also kicking off a "consolidation strategy in the network security market as well as adjacent markets." Many of SonicWALL's competitors are bigger and richer, which would seem to limit the consolidation options.
Little Allot Communications
But Thoma Bravo likes to buy several companies in interesting sectors and combine them in new, value-unlocking ways. On that note, the firm recently acquired backup and disaster-recovery specialist Double-Take Software
Is this the endgame for SonicWALL, or will someone like Cisco step in with a better offer? The comments box below is open for discussion.