By Dhirendra Tripathi
Investing.com – QAD jumped 20% as the online supply chain solutions provider agreed to be acquired by private equity firm Thoma Bravo for $2 billion in cash.
Under the terms of the agreement, QAD shareholders will receive $87.50 per share of class A common stock (NASDAQ:QADA) or class B common stock (NASDAQ:QADB) in cash.
QAD will go private once the deal is complete, expected to happen in the fourth quarter of 2021.
Founder and President Pamela Lopker intends to retain a significant ownership interest in the company and will continue to serve on the QAD board.
QAD will continue to invest in enterprise resource planning software and related enterprise software for manufacturing companies around the world, a note from the company said.
Anton Chilton will continue to lead QAD as CEO, the note said.