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    security investing

    BC Partners to Acquire Presidio

    Dorothy Neufeld
    Aug. 14, 2019 08:35AM PST
    Defense And Security Investing

    BC Partners, multibillion dollar holding company announced that it will acquire data and security firm, Presidio (NASDAQ:PSDO). The deal has an approximate value of US$2.1 billion, paid in cash. Presidio shareholders will receive US$16 in cash for each share owned as part of the deal. As quoted in the press release: Under the terms of …

    BC Partners, multibillion dollar holding company announced that it will acquire data and security firm, Presidio (NASDAQ:PSDO). The deal has an approximate value of US$2.1 billion, paid in cash. Presidio shareholders will receive US$16 in cash for each share owned as part of the deal.

    As quoted in the press release:

    Under the terms of the agreement, Presidio stockholders will receive $16.00 in cash for each share of Presidio common stock they own. The purchase price represents a premium of 21.3% over Presidio’s closing stock price of $13.19 on August 13, 2019, and a premium of 18.3% over the Company’s 60-day volume-weighted average share price leading up to this announcement. The Presidio Board of Directors unanimously approved the agreement with BC Partners and recommends that Presidio stockholders vote in favor of the transaction.

    “We believe this transaction will provide immediate and substantial value to Presidio stockholders, while providing us with a partner that can add strategic and operational expertise to our business, with a focus on executing our long-term strategy,” commented Bob Cagnazzi, Chief Executive Officer of Presidio.

    “Over the last several years, Presidio has become the leader in designing, developing, deploying and managing agile secure IT infrastructures that drive real business value for thousands of commercial and public sector entities across the United States,” said Fahim Ahmed, lead deal Partner of BC Partners. “We look forward to supporting the Company in its next phase of growth.”

    Click here to read the full press release.

    security investingnasdaq:psdobc partnersunited states
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