Tufin Shares Soar After It Agrees for Takeover At 44% Premium

Software-focused investment firm Turn/River Capital agreed to acquire Tufin Software Technologies Ltd TUFN in an all-cash transaction that values Tufin at $570 million.
Tufin is a company pioneering a policy-centric approach to security and IT operations.
Tufin shareholders will receive $13.00 per share in cash, representing a premium of 44% over Tufin's closing share price on April 5, the last full trading day before the transaction announcement.
Tufin will become a private company and collaborate with Turn/River to further accelerate its mission of helping enterprise customers use policy-driven automation to address tomorrow's security threats.
Tufin lead independent director Tom Schodorf said, "We are confident this transaction with Turn/River will allow Tufin to accelerate this transition, expand to new markets, and reach new customer segments."
Price Action: TUFN shares traded higher by 42.60% at $12.88 on the last check Wednesday.