Security awareness firm KnowBe4 has received an acquisition bid of $24 a share from the Austin, Texas-based investment firm Vista Equity Partners.
KnowBe4, founded in 2010 by CEO Stu Sjouwerman, said it has created a special committee of its board of directors to consider Vista’s offer.
“Consistent with its mandate, and in consultation with its legal and financial advisors, the Special Committee will carefully review the Vista proposal and other potential value creation opportunities to determine the course of action that it believes is in the best interests of KnowBe4 and its stockholders,” KnowBe4 explained.
“There is no certainty that any transaction will be consummated, and KnowBe4 does not intend to comment further until the Special Committee has concluded its review,” it added.
