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Publish Date : 10-Feb-2015

Insight Venture Partners, a major global venture capital and private equity firm, has settled a definitive merger agreement worth about USD273 million with the NASDAQ-listed leading cloud-based, on-demand software solutions provider - E2open, Inc., for the acquisition of the later, according to E2open. As part of the merger deal, an Insight associate will float a tender bid for all the balance shares of E2open common stock at a price of USD8.60 apiece in cash. The offer price represents a premium of 41% over the closing stock price of E2open on 4th February, 2015.

The E2open Board of Directors have already offered their unanimous approval to the merger agreement and also asked the company’s shareholders to offer their shares in the tender bid. Funds under the supervision of Elliott Management will deliver the minority part of the equity. E2open will be a privately held company, after the closure of the amalgamation deal. The company has appointed BofA Merrill Lynch as its financial advisor, while Wilson Sonsini Goodrich & Rosati, P.C. is providing legal support to the business.

E2open delivers cloud-based, on-demand software solutions to enterprises to facilitate them acquire, make, and sell, as well as distribute products in a further competent manner via joint planning and implementation covering trading networks across the world. Insight Venture Partners has hired Willkie Farr & Gallagher LLP as the legal counselor for the PE firm. The major global VC and PE firm, which was set up in 1995, makes investments in budding technology and software businesses, which facilitate transformation in their industries. Since inception, it has lifted over USD9 billion, with investments covering 200+ companies across the world.

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