2345 GMT - The price offered by NinjaOne to acquire software platform Dropsuite looks strong and is likely to succeed unless a rival bidder emerges, Ord Minnett says. NinjaOne's proposal is worth A$5.90/share in cash, valuing Dropsuite at around A$414.5 million. NinjaOne has already secured a commitment from Topline Capital, which owns 31% of Dropsuite's stock, to vote in favor of a deal. Ord Minnett rated Dropsuite a buy before the deal was announced, noting that 4Q metrics also released today were extremely positive with paid user growth of 168,000 setting a new quarterly record. Dropsuite stock is up 31%.(david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 27, 2025 18:45 ET (23:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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