Imprivata Inc. (NYSE: IMPR) reached a definitive deal to be bought by an affiliate of Thoma Bravo, LLC, a private equity firm, for $544 million. According to the agreement terms, the company's shareholders would get $19.25 in cash representing a 33 percent premium to its last closing stock price of $14.50.
Imprivata President and CEO, Omar Hussain, said, "We're tremendously excited about Thoma Bravo's investment in our company and believe this transaction represents a great outcome for our current shareholders. Given Thoma Bravo's successful track record in both security and healthcare IT, today's partnership is an endorsement of Imprivata's corporate vision and our relentless focus on the customer experience -- a value which has established us as the vendor of choice in healthcare IT security. We are now in a stronger position to pursue market opportunities through innovating and expanding the products and services we offer."
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Thoma Bravo's Managing Partner, Scott Crabill, said the need to integrate strong, compliant security technology without any hurdles in the healthcare industry is growing every day. He believes that Imprivata is well positioned to be the strongest vendor in this space and has a unique opportunity to continue to expand its market presence.
Following the news, IMPR shares traded 29.79 percent higher at $19.14 in the pre-market.