Southborough-based Double-Take Software Inc. has agreed to be acquired by Vision Solutions Inc. for about $242 million.
The deal would pay Double-Take stockholders $10.55 per share in cash. On April 9, the last business day before the company’s board of directors announced it was considering the acquisition, Double-Take stock traded at $8.71 per share.
Double-Take’s board has unanimously approved the acquisition agreement.
The transaction is expected to close during the third quarter. Double-Take and Vision’s software is used for data recovery, replication and availability.
Vision is based in Irvine, Calif., and is a portfolio company of private equity firm Thoma Bravo LLC.
