KnowBe4 will be acquired byVista Equity Partners in a $4.7 billion deal.
The founder and CEO of KnowBe4 stated in a press release that they will have access to additional resources and support under the ownership ofVista.
KnowBe4 is a Clearwater, Florida-based company founded in 2010 that offers a variety of programs. It is important for workers to know how to spot an attack in order to reduce the human error factor.
After raising more than $300 million in venture capital funding, the company hit the public markets in 2021, but its shares have barely budged since. The offer of $24.90 per share by Vista Equity Partners is a 44 percent premium over KnowBe4's closing price on September 16th.
KnowBe4 agreed to be acquired after the company set up a special committee to assess the initial proposal. The company said that it expects the deal to close in the first half of next year.
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