Vista Equity Partners Acquires Websense Inc. (WBSN)
Vista Equity Partners has acquired Websense Inc. (NASDAQ:WBSN) for around $1 billion. Websense is known for developing software to protect companies from hackers. Websense’s TRITON security solutions unifies web security, e-mail security, mobile security, and data loss prevention (DLP). Websense has tens of thousands of customers that utilize their software to stop targeted attacks and malware.
Websense stockholders will receive $24.75 in cash for each share of Websense common stock that they own. This is a 29% premium of Websense’s closing price on Friday and a 53% premium of Websense’s average closing price over the last 60 days. Websense’s board of directors unanimously supported the deal. Websense will now become a privately held company and the company’s senior management will continue working at the company. Websense’s corporate headquarters will remain in San Diego. Bank of America Merrill Lync worked as a financial advisor to Websense.
Founded in 1994, Websense has over 1,500 employees worldwide and has 3,900 global channel partners for their product distribution. The company employs 500 research and development employees across 5 countries. Before renaming to Websense, the company was called NetPartners. The company originally started as a reseller of firewalls and other network security products. The company’s first software product was called Websense Internet Screening and it launched in 1996 to help customers manage employee use of the web.
Based in Austin, Texas, Vista Equity Partners has around $7 billion in equity capital.