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Dec. 7, 2021, 7:22 a.m. EST

Mimecast to be acquired by private equity firm Permira in a deal valued at $5.8 billion

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By Tomi Kilgore

Mimecast Ltd. /zigman2/quotes/202578603/composite MIME -0.15% announced Tuesday an agreement to be acquired by private equity firm Permira in a deal that values the email-security software company at about $5.8 billion. Mimecast's stock is currently halted for news until 7:30 a.m. Eastern. Under terms of the deal, Permira will pay $80.00 for each Mimecast share outstanding, which is 6.7% above Monday's closing price of $75.00. The deal, which is expected to close in the first half of 2022, comes more than a month after The Wall Street Journal reported that Mimecast was exploring a possible sale. Since then through Monday, Mimecast's stock had rallied 8.8%. Mimecast's deal with Permira includes a "go-shop" period that expires on Jan. 6, 2022. The stock has run up 32.0% year to date, while the ETFMG Prime Cyber Security ETF /zigman2/quotes/207892345/composite HACK +0.28% has gained 2.5% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.08% has advanced 22.3%.

/zigman2/quotes/202578603/composite
US : U.S.: Nasdaq
$ 80.36
-0.12 -0.15%
Volume: 0.00
Jan. 14, 2022 4:00p
P/E Ratio
122.44
Dividend Yield
N/A
Market Cap
$5.38 billion
Rev. per Employee
$313,491
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/zigman2/quotes/207892345/composite
US : U.S.: NYSE Arca
$ 57.29
+0.16 +0.28%
Volume: 0.00
Jan. 14, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,662.85
+3.82 +0.08%
Volume: 0.00
Jan. 14, 2022 5:16p
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