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Mimecast has completed its acquisition by Permira for approximately $5.8 billion, equating to $80.00 per share in cash. The CEO, Peter Bauer, emphasized that this transaction marks a transformative era for Mimecast, aiming to enhance email security and data management. Post-acquisition, Mimecast’s stock has ceased trading and is no longer listed on public markets. Notably, Permira's experience in scaling technology companies is expected to bolster Mimecast's growth in providing innovative security solutions.
Mimecast Limited (NASDAQ: MIME) announced that the Royal Court of Jersey will hear its application for a scheme of arrangement on May 18, 2022. Mimecast aims to reschedule this hearing to an earlier date and will inform shareholders at least 14 days in advance if successful. Permira will acquire Mimecast’s shares for $80.00 each, with the transaction expected to close in the first half of 2022. Once completed, Mimecast will become a private entity, and its shares will no longer be publicly traded.
Mimecast Limited (NASDAQ: MIME) announced the appointment of Stanley Hsu as Regional Vice President, facilitating its expansion in South-East Asia from a new office in Singapore. With over 25 years in cybersecurity, Hsu aims to enhance customer success and product revenues amidst increasing email threats. Mimecast's recent report indicated an 84% rise in email threats in Singapore, emphasizing the urgent need for cybersecurity solutions. The company plans to strengthen its regional presence through partnerships and a robust ecosystem, focusing on the growing demand for cloud-based security.
Mimecast Limited (NASDAQ: MIME) announced that shareholders have approved its acquisition by funds advised by Permira, with approximately 99.76% voting in favor. The $80.00 per share cash deal is expected to close in the first half of 2022, pending regulatory approvals. Following the completion, Mimecast will transition to a privately held company, removing its ordinary shares from public trading. CEO Peter Bauer emphasized the transaction’s potential to enhance Mimecast's cybersecurity capabilities globally.
Mimecast Limited (NASDAQ: MIME) announced SecOps Virtual 2022, a complimentary conference for security, IT, and compliance leaders to exchange insights and best practices. Scheduled for February 8, 2022, the event will feature industry experts, including keynote speaker Dmitri Alperovitch. Key sessions will cover maximizing the value of security data and the importance of email intelligence. With over 40% of enterprise customers using Mimecast's API integrations, the event aims to enhance threat detection and response capabilities.
Mimecast Limited (NASDAQ: MIME) reported third fiscal quarter results for the period ended December 31, 2021, achieving $151.6 million in revenue, a 17% year-over-year increase. The company also improved average order value per customer to $15,200 and maintained a net revenue retention rate of 108%. GAAP EPS was $0.20, while non-GAAP EPS reached $0.38. Operating cash flow was reported at $46.3 million, with free cash flow at $38.0 million. Mimecast is in the process of being acquired by Permira for $80.00 per share, expected to close in H1 2022.
Mimecast (NASDAQ: MIME) announced an integration with SentinelOne to enhance end-to-end threat protection using XDR automation. This collaboration aims to improve incident response times and streamline operations for security teams, especially against the rising threats from email attacks, which have surged by 64% during the pandemic. The integrated solutions will help security operations teams minimize delays and manage threats more effectively, portraying a proactive approach to cybersecurity.
SentinelOne (NYSE: S) announced a new integrated solution with Mimecast (NASDAQ: MIME) to enhance end-to-end threat protection and accelerate incident response. This collaboration leverages XDR automation, enabling security teams to effectively manage incidents involving email and endpoints. As cyber threats evolve, organizations face increased risks, with a significant rise in email-based attacks. The integrated solution aims to reduce complexity and risk while boosting incident response speed, allowing security operations to focus on resolving threats more efficiently.
Mimecast Limited (NASDAQ: MIME) has been recognized as a Leader in the 2022 Gartner Magic Quadrant™ for Enterprise Information Archiving for the seventh consecutive year, highlighting its strong execution and completeness of vision. The company's Cloud Archive solution provides essential data access for businesses, aiding in compliance and data recovery, while minimizing costs and risks. Recent enhancements to the product include new features for e-discovery and improved supervision capabilities. Mimecast aims to support organizations in managing email and collaboration tool risks effectively.
Mimecast Limited (NASDAQ: MIME) announced its financial results for the third quarter ended December 31, 2021, will be released on February 3, 2022. The results will be disclosed after market close, with no follow-up conference call or live webcast due to the company's pending acquisition by Permira funds, announced on December 7, 2021. Mimecast, founded in 2003, focuses on enhancing email security and cyber resilience for organizations globally, continuously integrating essential security capabilities amidst rising cyber threats.
