Bridgepoint announced Wednesday that it has agreed to buy U.K.-based data security company Eckoh PLC for £169.3 million ($220 million) through its subsidiary, Eagle UK Bidco Ltd., a move that allows the private equity firm to tap into the expanding global digital security sector.
Bridgepoint’s Entry into Data Security with Eckoh Acquisition
The acquisition offer values Eckoh at roughly £161.8 million, with Bridgepoint’s Eagle UK Bidco agreeing to pay 54 pence in cash per share. This price represents an 11.3% premium over Eckoh’s August 21 closing price of 48.5 pence, the day before news of the offer broke. Bridgepoint anticipates finalizing the acquisition in the first quarter of 2025.
Alan Payne, Bridgepoint Development Capital partner and deputy head, highlighted Eckoh’s leading position in a specialized software field. “There is a growing need for businesses to establish secure customer payment solutions as new contact channels, payment methods, and compliance regulations emerge,” Payne said.
Bridgepoint to buy Eckoh : Legal Guidance and Approval Process
Bridgepoint is represented by Cleary Gottlieb Steen & Hamilton LLP, with a legal team led by partners Ian Shawyer and Nick Rumsby and counsel Joanna Roberts. Mills & Reeve LLP serves as legal adviser for Eckoh.
