Riverbed announced on December 15 that it has entered into a definitive agreement to be taken private and acquired by Thoma Bravo and Teachers’ Private Capital.
The deal is valued at approximately $3.6 billion and will pay Riverbed shareholders $21.00 per share in cash. The deal is expected to close in the first half of 2015, pending regulatory approvals. When the deal closes, existing Riverbed CEO Jerry Kennelly will remain with the company in the same capacity.
“Having undertaken a thorough strategic review, during which we assessed a wide variety of options to maximize value, the Board unanimously concluded that partnering with Thoma Bravo was the best choice for Riverbed,” Kennelly said in a statement.