DALLAS -- Entrust [NASDAQ: ENTU], a world leader in securing digital identities and information, today announced it has entered into a definitive agreement to be acquired by an affiliate of Thoma Bravo, LLC in a transaction with a total equity value of $114 million.
Under the terms of the agreement, Entrusts shareholders will receive $1.85 in cash for each share of Entrust common stock they hold, representing a premium of approximately 22.4 percent over Entrusts average closing share price of $1.51 during the 30 trading days ending April 9, 2009 and 25.8 percent over Entrust's average closing share price of $1.47 during the 90 trading days ending April 9, 2009.
The board of directors of Entrust has approved the merger agreement and resolved to recommend that Entrusts shareholders adopt the agreement.
After an extensive review of our strategic alternatives, Entrusts board of directors has determined that this transaction provides for the best value to shareholders, said Michael McGrath, chairman of Entrust.
Entrust Inc.
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