Inovalon in an all-cash buyout deal with a consortium led by Nordic Capital

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• Inovalon (NASDAQ:INOV) has added ~7.7% in the pre-market after the company announced it agreed to be acquired by an equity consortium led by Nordic Capital in an all-cash transaction valued at $7.3B including debt.
• In the deal, Nordic Capital will be joined by Insight Partners, as lead co-investor, 22C Capital and Inovalon (INOV) CEO Keith Dunleavy, and certain Class B stockholders of Inovalon, the company said in a statement.
• Per the terms, Inovalon (INOV) shareholders will receive $41.00 per share in cash for each Class A or Class B common stock indicating ~25.3% premium to the Inovalon Class A common stock price on June 26, the day before media speculations on the deal began.
• The transaction is expected to close in late 2021 or early 2022, subject to customary closing conditions such as shareholder and regulatory approvals.
• Following the completion of the transaction, Inovalon (INOV) will become a private entity led by CEO Keith Dunleavy, and the company will maintain its headquarters in Bowie, Maryland.

• Read more on some other merger targets highlighted by BTIG in June.