Permira agrees to take-private of Mimecast at $5.8bn valuation, Astara promotes Tannenbaum to partner

Astara ups Tannenbaum to partner and Permira will acquire Mimecast in a take-private deal.


Email: Permira agreed to a take-private of email security company Mimecast at an equity valuation of about $5.8 billion. The firm will buy all outstanding ordinary shares of Mimecast at $80 per share. The transaction includes a 30-day “go shop” period expiring Jan. 6.

The purchase price represents a premium of about 16 percent to Mimecast’s closing price on Oct. 27, 2021. The Wall Street Journal reported in October the company was exploring a sale. The company’s market value at the time was about $4.5 billion, WSJ said.

Earlier this year, Thoma Bravo acquired cybersecurity and compliance company Proofpoint Inc. at a valuation of about $12.3 billion. Read it here.

Promote: Astara Capital promoted Lindsey Tannenbaum to partner. Tannenbaum joined Astara from Brightstar Capital in May, according to her LinkedIn profile.

Michael Ranson, a former senior executive at Blue Wolf Capital, formed Astara last year. The firm has been investing on a deal-by-deal basis, including making its first platform deal earlier this year in Garlock Printing & Converting, a flexible packaging business specializing in the food and beverage industry. Read more here on PE Hub.

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