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Turn/River Capital Completes Acquisition of Tufin

Tufin announced the completion of its acquisition by Turn/River Capital, an operationally-focused software investment firm, in an all-cash transaction valued at approximately $570 million. Lion Investment Partners will be co-investing alongside Turn/River.

Under the terms of the merger agreement, Tufin shareholders will receive $13.00 per share in cash, representing a premium of approximately 44% over Tufin’s closing share price on April 5, 2022, the last full trading day prior to the transaction announcement, and a premium of approximately 54% over Tufin’s one-month volume-weighted average closing price through April 5, 2022. With the completion of the acquisition, Tufin’s common stock has ceased trading and will no longer be listed on the New York Stock Exchange.

“Tufin remains committed in its mission to help the world’s largest organizations increase security and agility while reducing cost and risk across complex network and cloud environments,” said Ruvi Kitov, CEO and Co-Founder of Tufin. “Working with Turn/River, we look to expand our leadership in policy-based automation by centralizing security policy management and scaling to the needs of the largest enterprises.”

“Tufin’s leadership position in the network security policy management space is a testament to the team’s extensive domain expertise,” said Matthew Amico, Principal at Turn/River Capital. “With a focus on policy-centric solutions, Tufin enables enterprises to maintain a robust network and cloud security posture, while also delivering significant customer value through powerful automation.”

Jarrett Stringfellow, Operating Lead at Turn/River, and Chairman of the Tufin Board notes: “In partnership with Turn/River’s Go-To-Market focused operations team, Tufin will seek to further expand its product offerings into the cloud and drive significant growth.”

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