Websense, Inc. (WBSN) Monday said it has agreed to be acquired by Austin, Texas-based private equity firm Vista Equity Partners in a deal valued at about $1 billion. Websense shares are up about 29 percent in the morning trade.
As per the terms of the deal, Websense stockholders will receive $24.75 in cash for each share of Websense common stock they hold. This represents a premium of about 29 percent over Websense's closing price on May 17, and a 53 percent premium to Websense's average closing price over the past 60 days.
Websense, which provides Web, email, and data security solutions, noted that upon closing, it will become a privately held company, with senior management expected to continue with the firm and headquarters remaining at San Diego. Vista is focused on investments in software, data and technology-enabled businesses.
John Carrington, chairman of the Websense board of directors stated, "After detailed discussions with several potential acquirers, the Websense board of directors is pleased to approve this agreement. It provides stockholders with immediate and substantial cash value that reflects our assessment of the fair value of the company."
As per the deal agreement, an affiliate of Vista will begin a tender offer for all of the outstanding shares of the Websense common stock. The Websense board unanimously recommends that the company's stockholders tender their shares in the tender offer. Websense expects the transaction to be closed before the end of third quarter of 2013.
Robert Smith, CEO and founder of Vista Equity Partners said, "We are long-term investors in enterprise software and data companies that are committed to being leaders in their markets...We look forward to working with the company to enable it to reach its full potential."
The closing of the deal is subject to, among other things, anti-trust approval, receipt of funding under the financing agreements and other customary closing conditions.
BofA Merrill Lynch is serving as financial advisor to Websense and Cooley LLP as legal advisor. Kirkland & Ellis LLP is acting as Vista's legal advisor. J.P. Morgan Securities LLC, RBC Capital Markets and Guggenheim Partners have agreed to provide debt financing in connection with the transaction, Websense added.
WBSN is currently trading at $24.74, up $5.51 or 28.65 percent, on a volume of 7.25 million shares.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.