Endace jumps on takeover bid
Network monitoring company Endace rocketed after it announced it had received a takeover offer valuing the company at over 80 million pounds.
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.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
High earners underestimate how much they need to retire comfortably
High net worth individuals grossly misjudge how much money they need for a comfortable retirement, new data shows, with many not saving enough.
-
Retired banker who gave wife £80m to avoid inheritance tax won’t face equal split in divorce
Family lawyers say the Supreme Court ruling will have significant impact on high net worth divorce cases