Vision Solutions, a portfolio company of Thoma Bravo, has agreed to acquire Southborough, Massachusetts-based Double-Take Software, a provider of recovery solutions.

Under the terms of the agreement, Double-Take stockholders will receive $10.55 in cash for each share of Double-Take common stock they hold, representing a premium of approximately 39% and 21% to Double-Take’s enterprise value and closing share price of $8.71, respectively, on the last business day prior to Double-Take’s announcement that its Board of Directors was considering indications of interest to be acquired.

The transaction that was announced this morning represents a net offer value of approximately $242 million.

The Double-Take Board of Directors unanimously approved the agreement and has recommended the approval of the transaction to Double-Take’s stockholders.

The transaction is subject to customary closing conditions and the approval of Double-Take stockholders. The transaction is not subject to a financing condition, and debt commitments for the merger consideration have been received by Vision Solutions.

Double-Take expects the transaction to close in the third quarter of 2010.

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