
RPX Corporation has entered into a definitive agreement to be acquired by HGGC, a middle market private equity firm, in an all-cash transaction valued at $555 million. Under the terms of the agreement, HGGC will initiate a tender offer for RPX shares at a price of $10.50 per share in cash.
The agreement was unanimously approved by RPX’s Board of Directors following a thorough review of a full range of strategic, financial and capital structure alternatives, which was announced in February 2018.
Rich Lawson, HGGC CEO, commented: “We are big believers in RPX’s mission to deliver patent risk and discovery management solutions to its clients. RPX’s and Inventus’s businesses begin and end with the trust of their clients, and we will continue to serve their best interests. We fully support the vision of the Company to build a much-needed clearinghouse in the broader market for patents and will continue RPX’s decade-long commitment to never assert patents.”
Kirkland & Ellis LLP represented HGGC in the deal.