Marketing automation giant Vocus acquired for $446.5M
Marketing and PR software firm Vocus, a public company, agreed to be acquired for $446.5 million today — that’s 48% more than it was worth on close last Friday.
Vocus’ board of directors approved the purchase of $446.5 million, in a merger agreement with Chicago-based private equity firm GTCR. That acquisition price represents a premium of 48% on Vocus’ closing share price on April 4th (it was $12.18). Of course, the deal has yet to close, and is pending shareholder approval.
In addition, Maryland-based Vocus shares that GTCR will also buy Vocus’ outstanding shares of convertible preferred stock for $77.3 million.
Vocus claims to have over 16,000 annual subscribers to its marketing automation tools. The company’s subscriptions range between $300 and $2500 per month.