Mimecast gains after company is said to be exploring a potential sale

Oct. 28, 2021 9:23 AM ETMimecast Limited (MIME)By: Joshua Fineman, SA News Editor

Phishing Email Network Cyber Security

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  • Mimecast (NASDAQ:MIME), an email-security software company, rose 7.3% in premarket trading on a report that the company is exploring a potential sale.
  • Mimecast, which has a market cap of about $4.5B, is working with advisers to explore a sale or potentially take a big investment, according to a WSJ report, which cited people familiar. The process is still at an early stage.
  • One potential acquirer expected to consider a purchase is Proofpoint Inc., according to the report. Recall that private equity firm Thoma Bravo completed its $12.3B acquisition of Proofpoint in late August.
  • Mimecast is expected to report results on Tuesday.

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