Model N, the platform used by companies including Johnson & Johnson, AstraZeneca and AMD to automate pricing, incentive and compliance decisions, is going private in a $1.25 billion deal.
Vista Equity Partners is paying $30 per share in the all-cash deal, which represents a 12% premium to Friday’s closing price and a 16% premium to the 30-day average price.
Founded in 1999, Model N’s software integrates with a variety of data sources and internal systems to help companies analyze trends, pricing effectiveness, market demand and more. The platform is typically used in industries such as pharmaceuticals and life sciences, where complex pricing structures may exist and regulatory or market changes may impact the business.
San Mateo-based company goes public The company listed on the New York Stock Exchange (NYSE) in 2013 and has generally performed well during that time, especially since around 2019 when its market capitalization began to grow steadily, reaching an all-time high of $1.6 billion last year. However, its valuation has generally hovered at market levels below $1 billion over the past six months, prompting Vista Equity Partners to take action today.
This is Vista Equity Partners’ fifth such acquisition in the past 18 months, following Avalara ($8.4 billion); KnowBe4 ($4.6 billion); Duck Creek Technologies ($2.6 billion); and EngageSmart ($4 billion) ).
Vista said it expects the transaction to close by mid-2024, although this is of course subject to the usual conditions, including shareholder approval.
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