Lowenstein Sandler is advising Diligent Corporation, the leading provider of secure online collaboration and document sharing solutions, in its definitive agreement to be acquired by Insight Venture Partners, a leading global venture capital and private equity firm. Under the terms of the transaction, stockholders of Diligent, a New Zealand Stock Exchange listed company, will receive $US 4.90 in cash for each share of Diligent stock, a consideration which values Diligent at approximately $US 624 million, including cash. The transaction remains subject to customary closing conditions, including stockholder approval, and is expected to close in the second quarter of 2Q 2016. Diligent will be a privately-held company upon closing. The Lowenstein team included Marita Makinen, Michael Reinhardt, Victoria Rutwind, Randall Dorf, Marc Lomasky, James Gregory, Darren Goodman, Michael Walutes, Lesley Adamo, Matthew Savare, Lisa Harvey, Lowell Citron, Theodore Sica, and Michael Brosse.
February 14, 2016