Talend to go private in $2.4bn deal with PE firm Thoma Bravo

Data solutions company Talend has agreed to be bought by private equity firm Thoma Bravo in a $2.4bn deal.

Under the terms of the deal, Bravo will pay $66 a share in cash for Talend. The price represents a premium of about 29% to Talend’s closing share price on Tuesday. The company said its board of directors has unanimously approved the memorandum of understanding.

Talend chairman Steve Singh said: "We are pleased to move forward with Thoma Bravo, as the transaction will deliver compelling and certain cash value to Talend shareholders and significant strategic, long-term benefits for our customers, employees, and other stakeholders.

"Our board is focused on driving shareholder value and has periodically evaluated potential transaction alternatives in the context of our standalone plan over the past several years. With the successful advancement of our transformation effort led by our CEO over the past year, the Talend board and management team conducted a targeted process with potential financial and strategic parties to determine the best path forward for the company. We believe the transaction with Thoma Bravo validates the Talend team's success in building a data market leader."

The agreement includes a 30-day "go-shop" period expiring on 10 April, which allows Talend to solicit alternative acquisition proposals.