San Diego Business Journal

Vista Equity Begins Tender Offer Process for Websense

Thursday, May 30, 2013

Vista Equity Partners, the Texas private equity firm that recently agreed to buy San Diego-based Websense Inc. for $906 million, said its affiliate firm, Tomahawk Merger Sub Inc., began the tender offer process of acquiring all the outstanding shares of Websense at $24.75 per share, net to the seller without interest.

Websense, the provider of security software products mainly for larger companies, agreed to be acquired May 20.

Completion of the tender offer is subject to conditions, including the satisfaction of a minimum tender condition, the expiration or termination of waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the receipt of proceeds under executed bank commitments, the companies said.

The tender offer and withdrawal rights are scheduled to expire June 25 unless extended or terminated earlier in accordance with the terms of the agreement, the companies said.

— SDBJ Staff Report