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

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.