Private equity firm Bridgepoint is preparing to acquire Eckoh, a data security company based in Hertfordshire, for £161.8 million in a take-private transaction. The deal, which is all-cash, values Eckoh shares at 54p each, representing an 11% premium over the closing price prior to the announcement and a 35% premium compared to the six-month average.

To facilitate the acquisition, Bridgepoint has established a new entity called Eagle UK Bidco Limited. Eckoh currently serves over 200 enterprise clients, primarily in the US and UK, and employs around 190 people across its offices in Hemel Hempstead, Ealing, and Omaha.

The acquisition is anticipated to finalize in the first quarter of 2025, pending shareholder approval. Alan Payne, a partner at Bridgepoint Development Capital, emphasized that the offer provides significant value for Eckoh shareholders. He noted Eckoh's leadership in a specialized software sector and its innovative customer engagement technology.

Payne highlighted the increasing demand for secure customer payment solutions as businesses adapt to new payment methods and compliance regulations. He expressed enthusiasm about collaborating with Eckoh's management to enhance the company's growth and global presence.

Eckoh's CEO, Nik Philpot, remarked on the company's progress over the past decade in establishing itself as a leader in customer engagement data security. He acknowledged the growth momentum in North America and stressed the need for increased investment in product development and market strategies to seize emerging opportunities.

Overall, this acquisition reflects Bridgepoint's commitment to strengthening Eckoh's capabilities and expanding its market reach in the evolving landscape of data security and customer engagement technology.