- Cybersecurity KnowBe4 ( NASDAQ: KNBE ) may need to see an offer of $28 to $30/share after Vista Equity earlier offered to buy the company for $24/share, according to Truist. KnowBe4 surged 28% on the bid.
- "Even though the multiple Vista is paying is higher than what recent software multiples have gone for (8.5x EV/Sales) we believe something in the $28-$30/share will get the transaction done," Truist analyst Joel Fishbein wrote in a note on Monday.
- "The offer for KnowBe4 is not a surprise to us and continues the theme of M&A in our software coverage ...," Fishbein added.
- The $24/share offer represents a 39% premium to KnowBe4's ( KNBE ) closing price on Friday. Vista Equity reported a 17.4% stake in a 13/D filing .
For further details see:
KnowBe4 offer may need to see $28-$30/share to get a deal done - analyst