Talend (NASDAQ: TLND) has just announced that it has entered into a memorandum of understanding with Thoma Bravo under which Thoma Bravo intends to commence a tender offer to acquire all of the outstanding ordinary shares and American Depositary Shares (“ADSs”) of Talend, for US$66 per ordinary share and ADS (each ADS representing one ordinary share) in cash.
The offer represents a premium of approximately 29% to Talend’s closing price on March 9 and an 81% premium to the volume weighted average price over the last twelve months.
Talend says that subject to and on completion of the transaction, it would become a private company and continue investing in its cloud transition as well as products and solutions that serve the evolving data needs of its customers.
“We are pleased to move forward with Thoma Bravo, as the transaction will deliver compelling and certain cash value to Talend shareholders and significant strategic, long-term benefits for our customers, employees, and other stakeholders,” said Steve Singh, Chairman of the Board of Talend.
“Our Board is focused on driving shareholder value and has periodically evaluated potential transaction alternatives in the context of our standalone plan over the past several years. With the successful advancement of our transformation effort led by our CEO over the past year, the Talend Board and management team conducted a targeted process with potential financial and strategic parties to determine the best path forward for the Company. We believe the transaction with Thoma Bravo validates the Talend team’s success in building a data market leader.”
“The last twelve months have underscored the importance of digital transformation and the unique and vital role Talend plays in ensuring enterprises can trust the data fueling their business,” said Christal Bemont, Chief Executive Officer of Talend.
“I am pleased with how the team has executed through the challenges of 2020 and successfully delivered on the strategic initiatives and targets we laid out a year ago. As we look forward, the transaction with Thoma Bravo – a firm with a successful track record of helping the companies it acquires achieve long-term, sustainable growth – will provide Talend with additional capital, resources, and expertise to execute against our mission and leverage a large market opportunity to help all organisations become data-driven.”
“We are thrilled to partner with the management team at Talend to continue to build upon their leadership position in the cloud data integration market,” said Seth Boro, a Managing Partner at Thoma Bravo.
“We are confident we can apply our experiences working with market-leading software companies to accelerate Talend’s growth and complete its transition to the cloud.”
“Data has become critical to every facet of the world, and Talend’s data fabric empowers organisations to operationalise their data,” said Chip Virnig, a Partner at Thoma Bravo.
“Talend has built the leading cloud-native orchestration platform that helps organisations bring together all their data, wherever it may sit, to solve their most complex problems.”