By Adriano Marchese
Absolute Software shares in Toronto and New York jumped in early trading Thursday after the company agreed to be acquired by a California-based venture capital firm in a deal with an enterprise value of $870 million.
The Vancouver-based security solutions company entered into an arrangement agreement with funds affiliated with Crosspoint Capital Partners for all of its issued and outstanding common shares to be acquired for $11.50 each.
At 9:49 a.m. ET, shares in New York were 33% higher at 11.37, while in Toronto, they rose 33% as well to 15.31 Canadian dollars ($11.45).
Write to Adriano Marchese at [email protected]
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