RPX Corp. To Be Acquired By HGGC - Quick Facts

(RTTNews) - RPX Corp. (RPXC) announced a definitive agreement to be acquired by HGGC, a middle market private equity firm, in an all-cash transaction valued at approximately $555 million. HGGC will initiate a tender offer for RPX shares at a price of $10.50 per share in cash. The transaction is expected to close in the second or third quarter of 2018.

Shelby Bonnie, RPX Chairman of the Board, said, "Over the course of our review, the RPX Board of Directors evaluated a full range of strategic, financial and capital structure alternatives to best serve the interests of our stockholders, including a sale and continuing to operate as a standalone public company. After receiving and reviewing numerous proposals and indications of interest, as well as considering RPX's current operations and future prospects, the Board is entirely confident that this transaction provides great, certain and immediate value to RPX stockholders."