Monotype Imaging Holdings TYPE will be acquired by private equity firm HGGC. The company will acquire Monotype common stock for $19.85 per share in cash, representing an aggregate equity value of approximately $825 million.
The $19.85 per share cash represents approximately 23% to Monotype’s closing share price on July 25. The transaction has been approved by Monotype’s board of directors, is expected to close in the fourth quarter of 2019.
“We are pleased to reach this agreement with HGGC, which enables our shareholders to realize immediate value at a significant premium for their shares. This transaction is clear recognition of the tremendous value and reputation that Monotype has built,” said Pamela Lenehan, chair of the Monotype.
Monotype Imaging Holdings shares were trading higher by 22.8% at $19.85 in Friday’s pre-market session. The stock has a 52-week high of $22.30 and a 52-week low of $15.29.
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