Private equity firm Thoma Bravo is buying data integration provider Talend for $2.4 billion, the companies announced Wednesday. Talend, which went public in 2016, said the deal will position the company for long-term growth and provide the necessary capital and resources to execute its market strategy.
Thoma Bravo is no stranger to the tech market. The firm has acquired a sizable portfolio of technology brands, including Qlik, Flexera, Riverbed, Blue Coat and Barracuda Networks. Thoma Bravo has also built up a portfolio of security brands with the acquisitions of Sophos, Veracode, ConnectWise, and Imperva, as well as automotive software company Autodata.
"We are thrilled to partner with the management team at Talend to continue to build upon their leadership position in the cloud data integration market," said Seth Boro, a managing partner at Thoma Bravo. "We are confident we can apply our experiences working with market-leading software companies to accelerate Talend's growth and complete its transition to the cloud."
Talend sells software that helps companies access and collect data from disparate sources -- such as sensors, social media streams or other business software -- and then clean and organize that data so it can be used inside other analytic systems. Talend competes with a number of companies in the data integration space, including Informatica, Oracle and IBM. Last month the company reported Q4 revenue and profit that topped analysts' expectations, and forecasted strong sales for its current quarter.
Under the terms of the buyout, Talend shareholders will receive $66 per share in cash. That sum equates to a 29% premium over Talend's stock price on March 9. Talend has a 30-day "go-shop" period that expires April 10.
Shares of Talend rose nearly 30% in early trading.