Network monitoring company Endace rocketed after it announced it had received a takeover offer valuing the company at over 80 million pounds.
The offer from Emulex Bidco was at a 65% premium to the closing price the day before the announcement was made.
The deal is subject to a number of conditions, including Emulex Bidco receiving acceptances for shares which confer 90% or more of the voting rights in Endace.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"[Together] we will create a new generation of network visibility solutions and take them to a global market," said Mike Riley, Endace Chief Executive.
"The combined strengths of Emulex and Endace will provide our customers with industry-leading solutions to connect, monitor and manage high-performance networks in the world's most demanding data centre environments."
Emulex said the acquisition was an opportunity to enhance its network product offering through Endace's network visibility and intelligent network recording solutions.
-
8 of the best properties for sale near ski slopesThe best properties for sale near ski slopes – from a luxury cabin in Geilo, one of Norway’s premier ski resorts, to a large chalet in Valais, Switzerland
-
Cash hoarders take total UK savings to £2 trillion – why aren’t we investing?Investment-shy Brits are hoarding huge amounts of cash in their savings accounts. We look at the case for saving versus investing.
