M&A · Tech · Services-Computer Processing & Data Preparation
Vera Whole Health, Inc. to acquire Castlight Health, Inc.
Announced Jan 5, 2022 · Closed Feb 17, 2022
Deal value$370MEV $310M
Premium25.0%To unaffected price
EV / Adj. EBITDA—2.2x EV / Revenue
ConsiderationAll cash
Transaction
- Acquirer
- Vera Whole Health, Inc.
- Target
- Castlight Health, Inc.
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- $310M
- Status
- Closed Feb 17, 2022
Deal protections
- Break fee (target pays)
- $13.4M · 3.6%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- William Blair
- William Blair fee
- $3.1M
Sector context · Tech
- Comparable deals
- 51 in the prior 24 months
- Premium
- 25.0% vs. 30.8% sector median
- EV / Adj. EBITDA
- Sector median 17.4x
- Break fee
- 3.6% vs. 3.0% sector median
Timeline
- AnnouncedJan 5, 2022
- Tender offerJan 19, 2022
- ClosedFeb 17, 2022
Valuation · fairness opinions
Discounted cash flow$1.33$2.13
Implied value per Castlight Health, Inc. share by analysis, from William Blair · DCF discount rate 10%–12%.