Investment Firm to Buy Serena for $1.2 Billion
From Associated Press
Serena Software Inc. of San Mateo, Calif., said it agreed to be sold for $1.2 billion to investment firm Silver Lake Partners in a deal that would result in the software maker’s becoming a private company.
Serena, which provides management software to clients such as General Electric Co., American Express Co. and IBM Corp., said its shareholders would get $24 in cash for each share they owned. The offer represents a 1.5% premium over Serena’s Thursday closing price of $23.65. Its shares fell 15 cents to $23.50 on Friday.
