Thoma Bravo and OTPP to Acquire Riverbed Technology

San Francisco-based Riverbed Technology is being acquired by Thoma Bravo and Ontario Teachers’ Pension Plan (OTPP). The cash transaction is at US$ 21 per share, at a value of around US$ 3.6 billion. The price paid is an 11% premium over Riverbed’s December 12th closing price. Earlier in 2014, Paul Singer’s activist hedge fund firm Elliott Management tried to acquire Riverbed for US$ 3.36 billion. By February, the hedge fund raised its bid to US$ 21 per share, which was rebuffed by Riverbed at the time. Elliot Management has supported the OTPP and Thoma Bravo buyout.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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