Sumo Logic to be Acquired by Francisco Partners for $1.7 Billion

Sumo Logic, the SaaS analytics platform that enables secure and reliable cloud-based applications, today announced that it has entered into a definitive agreement (“Agreement”) to be acquired by affiliates of Francisco Partners, a leading global investment firm specializing in partnerships with technology companies, at $12.05 per share in cash. The all-cash transaction values ​​Sumo Logic at an aggregate equity valuation of about $1.7 billion.

Under the terms of the agreement, Sumo Logic shareholders will receive $12.05 per share in cash. This represents a premium of around 57% against Sumo Logic’s unaffected closing price on January 20, 2023, the last full trading day before the media reported a futures exchange. the translation may occur. Upon completion of the transaction, Sumo Logic will become a privately held company with enhanced capabilities to expand market opportunities, innovate key solutions, drive growth and enhance its visibility.

“Since founding Sumo Logic in 2010, we have created a trusted, cloud-native, SaaS analytics platform for observability and security, enabling our customers to transform complexity into insights and accelerate their cloud transformation adoption,”
“Today’s announcement represents a compelling outcome for our stockholders. We are delighted at the prospect of partnering with Francisco Partners in the next phase of Sumo Logic’s journey.”
Ramin Sayar, President and CEO of Sumo Logic.
“The Sumo Logic Board conducted a thorough evaluation of strategic alternatives and spoke with a number of strategic and financial partners. The transaction with Francisco Partners delivers a substantial premium and a compelling cash value to our stockholders. The Board unanimously determined that this transaction maximizes stockholder value and represents the best path forward for Sumo Logic and recommended that stockholders vote in favor of the transaction.”
Chuck Robel, Lead Independent Director of the Sumo Logic Board of Directors.
“Sumo Logic is ideally positioned to capitalize on the large and growing demand from enterprises for observability and security solutions,”
“Its leading, cloud-native, analytics platform provides the scalability and insights required as applications and data proliferate in today’s digital world. We look forward to partnering with Sumo Logic to drive accelerated growth and continue its long heritage of product innovation.”
Brian Decker and Evan Daar, Partners at Francisco Partners.
“We are excited to invest in Sumo Logic and support its mission to make the world’s digital experiences reliable and secure,”
Karl Shum, a Principal at Francisco Partners.

The transaction, which has been unanimously approved by the Board of Directors of Sumo Logic, is expected to close in the second quarter of the calendar year 2023, subject to the usual closing conditions, including the approval and approval of the Company Sumo Logic shareholders.

Following the transaction, the common stock of Sumo Logic will no longer be listed on any public market.