17:I[87134,["/_next/static/chunks/abf43a076ddbd945.js?dpl=dpl_F6KiLDDFSAiMcLzw3V2cQMgAbhkA","/_next/static/chunks/5ac73fe2b25fc6c9.js?dpl=dpl_F6KiLDDFSAiMcLzw3V2cQMgAbhkA","/_next/static/chunks/92bdbfeca3f655f7.js?dpl=dpl_F6KiLDDFSAiMcLzw3V2cQMgAbhkA","/_next/static/chunks/733be0453bf96ece.js?dpl=dpl_F6KiLDDFSAiMcLzw3V2cQMgAbhkA","/_next/static/chunks/27718c319dd13e9b.js?dpl=dpl_F6KiLDDFSAiMcLzw3V2cQMgAbhkA","/_next/static/chunks/34c922b381f458e9.js?dpl=dpl_F6KiLDDFSAiMcLzw3V2cQMgAbhkA","/_next/static/chunks/c85eefbddd563073.js?dpl=dpl_F6KiLDDFSAiMcLzw3V2cQMgAbhkA"],"default"] 18:T4dc,

kneat.com, inc. (KSI.TO, KSIOF), known for digital validation and quality process automation solutions, disclosed Monday a binding arrangement agreement under which it will be purchased by Thoma Bravo, L.P., an investment firm specializing in software.

Under the terms, Kneat shareholders other than those holding Rollover Shares will receive C$6.50 per share in cash. This values total equity at approximately C$650 million on a fully diluted basis using the treasury-stock method and including Rollover Shares.

The transaction follows a strategic review conducted by Kneat. After closing, the company will operate as a privately held entity.

The purchase price reflects a premium of roughly 40 percent to the closing share price on the Toronto Stock Exchange on May 8, the final trading day before the strategic review was announced. It also represents about a 20 percent premium to the closing price on June 5, the last trading day prior to the deal disclosure.

The Kneat board has unanimously recommended that shareholders approve the transaction. The company plans to convene a special meeting in early August for a vote on the proposed sale.