Shares of Websense surged in premarket trading on Monday after the data security company agreed to be taken private for about $905.9 million.
Websense senior management is expected to stay with the company, whose headquarters are anticipated to remain in San Diego. The deal is expected to close before the third quarter's end.
Websense stockholders will receive $24.75 for each share they own, which is a 29 percent premium to the company's Friday closing price of $19.23. Websense Inc. has about 36.6 million outstanding shares, according to FactSet.
Websense Inc. and its suitor, the private equity firm Vista Equity Partners, put the value of the transaction at approximately $1 billion.