- Software-focused investment firm Turn/River Capital agreed to acquire Tufin Software Technologies Ltd (NYSE:TUFN) in an all-cash transaction that values Tufin at $570 million.
- Tufin is a company pioneering a policy-centric approach to security and IT operations.
- Tufin shareholders will receive $13.00 per share in cash, representing a premium of 44% over Tufin's closing share price on April 5, the last full trading day before the transaction announcement.
- Tufin will become a private company and collaborate with Turn/River to further accelerate its mission of helping enterprise customers use policy-driven automation to address tomorrow's security threats.
- Tufin lead independent director Tom Schodorf said, "We are confident this transaction with Turn/River will allow Tufin to accelerate this transition, expand to new markets, and reach new customer segments."
- Price Action: TUFN shares traded higher by 42.60% at $12.88 on the last check Wednesday.
