Permira Completes Acquisition of Mimecast
19 May 2022 - 10:06PM
Mimecast Limited (“Mimecast”) today announced the completion of its
acquisition by funds advised by Permira for approximately $5.8
billion or $80.00 per share in cash.
“Today marks the beginning of an exciting new era at Mimecast
during which we will continue to transform the way email security,
data and resilience are managed,” said Peter Bauer, chairman and
chief executive officer of Mimecast. “With Permira’s resources,
network and deep experience scaling global technology companies, we
will be better positioned than ever to deliver the innovations that
our customers and the world need. I want to thank our 2,000
Mimecasters for their relentless dedication to our customers and
our mission.”
With the completion of the transaction, Mimecast’s stock ceased
trading and the company is no longer listed on any public
market.
Citi served as exclusive financial advisor to Mimecast, and
Goodwin Procter LLP acted as legal counsel. Qatalyst Partners acted
as lead financial advisor to Permira and BofA Securities, J.P.
Morgan Securities LLC and RBC Capital Markets, LLC served as
financial advisors. Blackstone Credit and funds managed by Ares
Management Corporation’s Credit Group provided committed debt
financing to the Permira funds. Fried, Frank, Harris, Shriver &
Jacobson LLP served as legal counsel to Permira.
Mimecast: Relentless protection. Resilient world.
™
Mimecast was born in 2003 with a focus on delivering relentless
protection. Each day, we take on cyber disruption for our tens of
thousands of customers around the globe; always putting them first,
and never giving up on tackling their biggest security challenges
together. We are the company that built an intentional and scalable
design ideology that solves the number one cyberattack vector –
email. We continuously invest to thoughtfully integrate brand
protection, security awareness training, web security, compliance
and other essential capabilities. Mimecast is here to help protect
large and small organizations from malicious activity, human error
and technology failure; and to lead the movement toward building a
more resilient world. www.mimecast.com
Mimecast and the Mimecast logo are registered trademarks of
Mimecast. All other third-party trademarks and logos contained in
this press release are the property of their respective
owners.
About Permira
Permira is a global investment firm that backs successful
businesses with growth ambitions. Founded in 1985, the firm advises
funds with total assets under management of €60bn+ and makes
long-term majority, minority investments. The Permira funds have
made approximately 300 private equity investments in four key
sectors: Technology, Consumer, Healthcare and Services. Permira
employs over 450 people in 16 offices across Europe, North America,
and Asia.
The Permira funds have previously backed and helped scale some
of the largest and fastest growing software, cyber security and
consumer technology businesses globally, including McAfee,
Exclusive Group, Sysdig, Ancestry.com, LegalZoom, Adevinta, Klarna,
Genesys, Informatica and many others. For more information, visit
www.permira.com or follow us on LinkedIn or Twitter. For more
information, visit www.permira.com.
Safe Harbor for Forward-Looking Statements
Certain statements contained in this communication may
constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, are statements that could be deemed
forward-looking statements, including statements containing the
words “predicts,” “plans,” “expects,” “anticipates,” “believes,”
“goal,” “target,” “estimate,” “potential,” “may,” “might,” “could,”
“see,” “seek,” “forecast,” and similar words. Forward-looking
statements are based on Mimecast’s current plans and expectations
and involve risks and uncertainties which are, in many instances,
beyond Mimecast’s control, and which could cause actual results to
differ materially from those included in or contemplated or implied
by the forward-looking statements. Such risks and uncertainties
include, but are not limited to, the following: (i) the effect of
the transaction on the ability of Mimecast to retain and hire key
personnel and maintain relationships with its key business partners
and customers, and others with whom it does business, or on its
operating results and businesses generally; (ii) the response of
competitors to the transaction; (iii) significant costs associated
with the transaction; and (iv) the other risks, uncertainties and
factors detailed in Mimecast’s filings with the Securities and
Exchange Commission (SEC). As a result of such risks, uncertainties
and factors, Mimecast’s actual results may differ materially from
any future results, performance or achievements discussed in or
implied by the forward-looking statements contained herein.
Mimecast is providing the information in this communication as of
this date and assumes no obligations to update the information
included in this communication or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contacts
For Mimecast
Investor ContactInvestors@Mimecast.com
Press ContactPress@Mimecast.com
For Permira
Nina SuterNina.Suter@permira.com+44 207 9594037
James Williamsjames.williams@permira.com+44 774 7006407
OR
Brooke Gordon/Devin Broda/Julie RudnickSard Verbinnen &
Copermira-svc@sardverb.com
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