Kirkland represented Francisco Partners in purchase of Sumo Logic for $1.7 billion
Kirkland represented Francisco Partners in purchase of Sumo Logic for $1.7 billion
Kirkland & Ellis, a prominent global law firm, has advised affiliates of Francisco Partners on the acquisition of Sumo Logic.
The acquisition of Sumo Logic by Francisco Partners is a significant transaction in the technology sector. Sumo Logic is a leading provider of SaaS analytics platforms, which enables organisations to monitor and analyse their cloud-native applications.
The all-cash transaction values the company at approximately $1.7 billion. The acquisition is subject to regulatory approvals and other customary closing conditions, and it is expected to close in the second quarter of 2023.
Under the terms of the Agreement, Sumo Logic stockholders will receive $12.05 per share in cash. This represents a premium of approximately 57 per cent to Sumo Logic's unaffected closing stock price on January 20, 2023.
Upon completion of the transaction, Sumo Logic will become a private company with an enhanced ability to expand its market opportunity, innovate on its critical solutions, accelerate growth, and further its vision.
"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," said Ramin Sayar, President and CEO of Sumo Logic. "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."
"Sumo Logic is ideally positioned to capitalize on the large and growing demand from enterprises for observability and security solutions," said Brian Decker and Evan Daar, Partners at Francisco Partners. "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."
The Kirkland team was led by corporate partners Chelsea Darnell and Ed Lee, with support from corporate partners Michele Cumpston and Sean Kramer, and included corporate associates Alex Gallogly, Jacob Reichman, and Brian Campbell; executive compensation partner Rohit Nafday; tax partner Devin Heckman; debt finance partner Brian Ford; technology & IP transactions partner Vlad Khodosh; antirust partner Andrea Murino; and investment funds partners Justin Solomon and Michael Ryan Lee.
