Fortress Completes Its Acquisition of Finjan
Finjan Holdings, Inc. announced on July 24 that Fortress Investment Group LLC has completed its previously disclosed acquisition of the publicly traded NPE. “The closing of the transaction follows the successful completion of Fortress’s offer to purchase a majority of Finjan’s outstanding shares of common stock for $1.55 per share in an all-cash tender offer,” according to a press release. Upon announcement of the offer last month, Finjan had stated that it would “maintain its brand and business model post-transaction”, continuing to license and enforce the anti-malware portfolio that the NPE has been asserting in litigation since 2006. The tender offer valued Finjan at $43M, or $16M net of the company’s estimated cash balance of $27M at June 30.
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