NITRO SOFTWARE, INC. (Nasdaq: NTRO) today announced that it has received a $320 million offer from KKR & Co., L.P., a leading global private equity firm, to acquire all outstanding shares of the Company at an enterprise value of approximately $1.30 per share, which represents a premium of approximately 23% over the 20-day average closing price of the Company's common stock as of May 1, 2019, and a premium to Nitro's most recent trading range. The offer is subject to customary closing conditions and is expected to close on or about June 4, 2019. Under the terms of the proposed transaction, Nitro will receive approximately $363 million in cash and approximately $9 million in stock for each share of Nitro common stock that it does not own at closing.
"We are pleased to have received this significant offer from KKR," said Ron Bickman, President, and CEO of Nitro Software. "We believe that this transaction provides us with an attractive opportunity to strengthen our balance sheet while expanding our product portfolio."
Nitro Software, a provider of software for managing workloads in the enterprise, has received an offer from KKR's Alludo to acquire the company for $320 million. The purchase price represents a premium of approximately 63% over Nitro's closing stock price on November 20, 2019.
Nitro Software is a leading provider of integrated network and storage management software solutions that enable IT organizations to deliver on business-critical IT initiatives and improve overall performance. The company provides its solutions through a single platform that enables businesses to manage their entire storage infrastructure, including storage pools, file systems, and all attached storage devices including tape libraries. Nitro Software, the developer of the Nitro PDF software suite, has received an offer from KKR's Alludo to acquire all of the assets and intellectual property of Nitro Software for up to $320 million. The offer is contingent upon approval by the Nitro Board of Directors and certain other conditions precedent.
The company is going perfectly and is the largest provider of digital publishing software for the production and distribution of PDF documents, including secure e-signatures, electronic workflow tools, document management, and secure document-sharing software. The company's products are used by thousands of organizations in over 100 countries worldwide to create, convert, print, and distribute PDF files securely from any computer with Internet access. Nitro Software, Inc. (Nasdaq: NTRO) today announced that KKR has made an offer to acquire 100% of Nitro for $320 million in cash, or $1.48 per share. The offer represents a premium of about 2x Nitro's 20-day average closing price as of June 30, 2012.
Nitro is also a supplier of enterprise software solutions for the financial services industry. The company offers applications that automate the management and execution of transactions across all aspects of the capital markets business, including equity trading, fixed-income trading, interest rate futures, and options trading, currency trading, foreign exchange trading, and market-making activities.
Nitro has approximately 400 employees worldwide with headquarters in New York City and offices in London and Paris.
Another great feature of Nitro software is its ability to add transitions between different slides in your presentation. Transitions can be added manually or using a drag-and-drop interface. You can also use multiple transition effects if desired.
The best thing about Nitro software is that it's completely free! There are no restrictions on the number of slide decks that you can create or the number of revisions that you can make before publishing them online.
In the past few years, Nitro has become one of the most popular and fastest-growing social media marketing software in the world. Its popularity is not only due to its features but also because it is developed by a well-known company that has been providing social media marketing services for more than 10 years now.