BUZZ-Rapid7 rises after expanding board of directors in deal with activist investor

Reuters

03-24

BUZZ-Rapid7 rises after expanding board of directors in deal with activist investor

** Cybersecurity company Rapid7's RPD.O shares rise 6.3% to $30.08

** Rapid7 in settlement with activist investor Jana Partners appoints 3 new members to the board

** The company to expand the board to 11 directors

** Rapid7 CEO Corey Thomas said the newcomers will 'help us sharpen our strategy, strengthen execution and drive greater value creation for our shareholders'

** The deal comes as Rapid7 and Jana Partners discussed ways to boost share price by improving operations, Reuters reported yesterday, citing two people familiar with the matter

** Jana owned 3.7 million shares or a 5.8% stake in the company, according to a regulatory filing in March - LSEG

** Up to last close, stock had fallen 29.7% YTD

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))

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