GTCR LLC, the Chicago-based private equity firm that made a run at Cision, is taking Vocus private in a cash transaction pegged at $447M.
The loss-plagued PR software firm piled up $21.8M in red ink last year and $23.6M in 2012. Revenues in 2013 ticked up a scant one percent to $187M.
Mark Anderson, GTCR managing director, believes a privately held Vocus will “maximize its growth potential.”
The firm is paying Vocus shareholders $18 for each share, which represents a 48 percent premium to its April 4 closing price.
Vocus CEO Rick Rudman and chief financial officer Stephen Vintz own a combined 27.5 percent stake in their company.
Rudman said the deal provides fellow shareholders a chance to “realize cash value for their shares at a significant premium to historical share prices.”
Vocus has agreed not to solicit competing bids for the company.
The agreement calls for a termination payment of $13M to GTCR in the event Vocus okays another suitor.
The takeover is expected to be wrapped up by the end of the month.