Infoblox's Stock Soars After Buyout Deal Valued At $1.6 Billion

By Markets MarketWatch Pulse

Shares of Infoblox Inc. soared 15% in premarket trade Monday, after the network control company agreed to be acquired by Vista Equity Partners in a deal valued at $1.6 billion. Under terms of the deal, Vista Equity will pay $26.50 in cash for each Infoblox share outstanding, which represents a 16% premium to Friday's closing price of $22.83. The deal is expected to close during Infoblox's fiscal second quarter, which ends January. Infoblox had reportedly been accepting acquisition bids, under pressure from activist investor Starboard Value LP. Infoblox's stock had run up 24% year to date through Friday, while the S&P 500 had gained 4.7%.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.