Marketing and PR software firm Vocus, a public company, agreed to be acquired for $446.5 million today — that’s 48% more than it was worth at market close last Friday.
Vocus’ board of directors approved the purchase price of $446.5 million in a merger agreement with Chicago-based private equity firm GTCR. That price represents a premium of 48% on Vocus’ closing share price on April 4 (it was $12.18). The deal has yet to close and is pending shareholder approval.
In addition, Maryland-based Vocus shares that GTCR will also buy Vocus’ outstanding shares of convertible preferred stock for $77.3 million.
Vocus claims to have over 16,000 annual subscribers to its marketing automation tools. The company’s subscriptions range between $300 to $2,500 per month.
Vocus provides leading cloud-based public relations and marketing software that enables companies to acquire and retain customers. The company offers products and services to help clients attract and engage prospects, nurture and conve... read more »
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