Tufin®, a pioneer of policy-centric approaches to security and IT operations, announced today the completion of an all-cash purchase by Turn/River Capital, an operationally-focused software investment firm, for approximately $570 million. Lion Investment Partners will join Turn/River in the investment. Tufin shareholders accepted the transaction during the Special General Meeting of Shareholders on June 7, 2022, which was earlier announced on April 6, 2022.
Tufin shareholders will receive $13.00 per share in cash under the terms of the merger agreement, representing a premium of approximately 44% over Tufin’s closing share price on April 5, 2022, the last full trading day prior to the transaction announcement, and a premium of approximately 54% over Tufin’s one-month volume-weighted average closing price through April 5, 2022. Tufin’s common stock has ceased trading and will no longer be listed on the New York Stock Exchange following the completion of the transaction.
Ruvi Kitov, CEO and co-founder of Tufin said that Tufin will remain committed to its mission to help the world’s largest organizations increase security and flexibility while reducing costs and risks in complex network and cloud environments. He added that working with Turn / River, they aim to extend their leadership in policy-based automation by centralizing security policy management and scaling to the needs of the largest enterprises.
