According to Bloomberg, Mimecast is headquartered in Lexington, Massachusetts (USA) and has about 1,765 employees. Mimecast offers cloud security and risk management services with a major focus on email protection. The company’s stock price is up 32% this year.
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Mimecast is the most famous email security company in the world |
Permira has offered a price of $80 per share, representing a premium of about 16% above Mimecast’s closing price on October 27. This is the last trading day before a report of Wall Street Journal disclosed details of this company’s strategic review process.
Private equity firms have pursued cybersecurity deals after the sector saw a surge in demand for its services. A wave of large-scale attacks combined with many employees working remotely has resulted in a flurry of transactions.
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Last month, a group of investors led by Advent International Corp, Permira and several others agreed to buy cybersecurity software maker McAfee in a $14 billion deal that includes debt.
In August 2021, NortonLifeLock agreed to buy Avast in a deal worth $8.6 billion, while earlier this year Thoma Bravo agreed to acquire cybersecurity and compliance firm Proofpoint in a deal worth 12.3 billion USD.
The deal is expected to close in the first half of 2022. Citigroup is financial advisor to Mimecast, while Qatalyst Partners will act as financial advisor to Permira.
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