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TUFN - Tufin Software Gets Acquired By Private Equity Firm Turn/River Capital At $13 Per Share
Tufin Software Technologies Ltd.
Cybersecurity automation software provider agrees to be acquired by private equity firm Turn/River Capital. Shareholders will receive $13 per share in cash.
30-day "go-shop" period is unlikely to result in higher offers given the company's underwhelming growth, operating cash burn and lack of scale in a competitive market environment.
Expect the transaction to be approved in the upcoming special shareholder meeting and close before the end of this quarter.