Double-Take Software (NASDAQ: [[ticker:DBTK]]), a Southborough, MA-based maker of software for data protection and recovery, announced it will be acquired by Vision Solutions, an Irvine, CA-headquartered portfolio company of private equity firm Thoma Bravo. The deal has a net value of about $242 million and puts Double-Take common stock at $10.55 a share, a 21 percent premium over its closing share price of $8.71 on April 9, which was the last business day before the company’s board announced its interest in acquisition options. It’s expected to close in third quarter 2010, pending shareholder approval and other customary closing conditions. We wrote about Double-Take a few years back when it announced pricing for its planned public offering, and when it acquired data-protection software maker TimeSpring, for $8.3 million in cash.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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