Talend signed a memorandum of understanding with Thoma Bravo through which the private equity investment firm intends to start a tender offer to acquire all of the outstanding ordinary shares and American Depositary Shares (ADSs) of Talend for $66 per ordinary share and ADS (each ADS representing one ordinary share) in cash.
The offer, which values Talend at $2.4 billion, represents a premium of approximately 29% to Talend’s closing price on March 9 and an 81% premium to the volume weighted average price over the last 12 months.
If the transaction were completed, Talend would become a private company and continue investing in its cloud transition as well as products and solutions that serve the evolving data needs of its customers.
Talend will become a privately held company and Talend’s ADSs will no longer be listed on any public market, assuming the completion of the tender offer and the redomiciling and related transactions.
“With the successful advancement of our transformation effort led by our CEO over the past year, the Talend board and management team conducted a targeted process with potential financial and strategic parties to determine the best path forward for the company,” said Steve Singh, chairman of the board of Talend.
“We believe the transaction with Thoma Bravo validates the Talend team’s success in building a data market leader,” said Singh.
Talend CEO Christal Bemont said the transaction with Thoma Bravo will provide Talend with additional capital, resources, and expertise, and leverage a large market opportunity to help all organizations become data-driven.
The tender offer is currently expected to close in the third quarter of 2021 and the redomiciling and related transactions are currently expected to close in the fourth quarter of 2021.