Bazaarvoice To Be Acquired By Marlin In $521 Mln Deal; Announces Narrower Loss

(RTTNews) - Bazaarvoice, Inc. (BV) Monday announced second quarter net loss of $55 thousand or $0.00 per share narrower than $4.134 million or $0.05 per share in the prior year.

On an adjusted basis, net income was $5.4 million or $0.06 per share.

Revenue for the quarter increased to $53.41 million from $50.41 million in the prior year.

In a separate announcement, the company said it has entered into a definitive agreement to be acquired by entities affiliated with the global investment firm, Marlin Equity Partners. Marlin plans to acquire each share in exchange for $5.50 in cash for a total value of approximately $521 million. This price represents an 18 percent premium to the average closing price of Bazaarvoice common stock. Upon completion of the transaction, Bazaarvoice will become a privately-held company.

Upon the finalization of the deal, Bazaarvoice will maintain its headquarters in Austin, Texas. The transaction is expected to close in the first quarter of calendar 2018.