Shares of KnowBe4 (NASDAQ: KNBE) soared in pre-market trading on Wednesday as the security awareness training company announced that it will be acquired by Vista Equity in an all-cash deal at $4.6 billion.
Under the terms of the agreement, KnowBe4 shareholders will receive $24.90 per share in cash and this share purchase price represents a 44% premium to the Company’s unaffected closing price on September 16, 2022.
Stu Sjouwerman, Founder, Chairman, and CEO of KnowBe4 commented, “KnowBe4 has a strong record of performance, as evidenced by our market-leading platform and global customer base. Under Vista’s ownership, we will have access to additional resources and support, which will help us achieve our goals and deliver enhanced value to our customers.”
The acquisition is expected to close in the first half of next year.
Is KnowBe4 a Good Stock to Buy?
Analysts are bullish about KnowBe4 with a Strong Buy consensus rating based on seven Buys and one Hold.
The average KNBE price forecast of $24.13 implies a reasonable 11.8% upside potential to current levels.
