Model N to be Acquired by Vista Equity Partners

By Tamara Parker • Monday, April 08 09:27 • Permanent Link

Model N (NYSE: MODN) has announced its agreement to be acquired by Vista Equity Partners for $1.25 billion. This acquisition will see Vista pay $30.00 per share to Model N stockholders in an all-cash transaction.

The purchase price represents a 23% premium over Model N’s 30-trading-day volume weighted average share price as of January 10, 2024, and a 16% premium over the same metric as of April 5, 2024.

The transaction is expected to close in mid-2024, subject to customary closing conditions and approval by Model N stockholders.

Jefferies LLC served as the exclusive financial advisor and provided a fairness opinion to Model N, while Fenwick & West LLP served as legal counsel. Kirkland & Ellis LLP is acting as legal counsel to Vista.

The market has reacted to these announcements by moving the company's shares 1.0% to a price of $27.09. For more information, read the company's full 8-K submission here.

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