Mimecast Agrees to Permira Takeover in $5.8 Billion Deal (1)

Permira Advisers has agreed to buy Mimecast Ltd. in a $5.8 billion all-cash deal, marking the second major cyber security purchase by the private equity firm in a month.

Permira has offered $80 a share, which represents a premium of about 16% to Mimecast’s unaffected closing stock price on Oct. 27, the last full trading day prior to a Wall Street Journal report disclosing details regarding the company’s strategic review process, according to a statement Tuesday.

Private equity firms have been chasing cyber security deals after the sector has seen a surge in the demand for its services. A ...