Inovalon To Be Acquired By Nordic Capital-led Consortium; Stockholders To Receive $41.00/Shr

(RTTNews) - Inovalon (INOV) has agreed to be acquired by an equity consortium led by Nordic Capital, and co-led by Insight Partners, in an all-cash deal with an enterprise value of approximately $7.3 billion. Inovalon stockholders will receive $41.00 per share in cash. The merger is anticipated to close in late 2021 or early 2022.

The equity consortium also include 22C Capital, and Inovalon founder and Chief Executive Officer Keith Dunleavy, and certain Class B stockholders of Inovalon. Upon completion of the deal, Inovalon will become a private company. Keith Dunleavy will continue to be a substantial shareholder in the company, and lead as CEO.

Shares of Inovalon were up 8% in pre-market trade on Thursday.