Thoma Bravo Agrees to Take Compuware Private in $2.5B Deal
September 03, 2014
In what would be one of its biggest deals, Thoma Bravo announced Tuesday it has agreed to acquire IT performance company Compuware (NASDAQ: CPWR) in a transaction valued at roughly $2.5 billion. Under the terms of the agreement, company shareholders will receive an aggregate value of about $10.92 per share, representing a premium of approximately 17% to the stock price as of Friday’s close.
Jefferies, Credit Suisse and Deutsche Bank have agreed to provide debt financing to support the take-private deal, which is expected to close in early 2015. The agreement is still subject to the approval of shareholders. Compuware stock climbed 13.46% following Tuesday’s news, closing at $10.59, a high since April. More than 7,100 clients use its products and services, including application performance and mainframe productivity tools.