Francisco Partners Funds and Blancco have agreed on the terms of an all-cash offer for Blancco at 223p, valuing the entire issued share capital at approximately £175 million.
Blancco Technology Group shares were 22% higher at 219p at the time of writing.
The offer represents a premium of 24.6% to Blancco’s closing share price yesterday, 25.9% to the one-month volume-weighted average price, and 32.9% to the three-month volume-weighted average price.
Blancco said the board believes the offer provides shareholders the opportunity to realise the value of their holdings in cash at a level that recognises the company’s future growth potential.
Francisco Partners were attracted to Blancco’s market positioning, customer base and the possibility of further growth.