Tuesday, July 25, 2006

Francisco Partners Buys WatchGuard

Seattle-based WatchGuard Technologies is being purchased by private equity firm Francisco Partners, in a deal worth approximately $151M. WatchGuard said today that its board has approved a definitive agreement to acquire all of the outstanding shares of WatchGuard. The deal si worth $4.25 per share in cash for each share of WatchGuard common stock. The deal will take the firm private. The companies expect the acquisition will close in the fourth quarter. WatchGuard was advised by Wachovia Securities in the deal. WatchGuard is a provider of threat management and security software.