GP Investments enters Rimini Sreet

GP Investments enters Rimini Sreet

Brazil M&A US

GP Investments' acquisitions division has reached a merger agreement with Rimini Street, a Las Vegas-headquartered software support company.GP Investments Acquisition Corp (GPIAC) will issue 63.8m shares for $10 each to pay for the acquisition, making the merger worth $638m. GPIAC shareholders will own 25% of the combined company.Rimini Street has an anticipated initial enterprise value of roughly $837m and a post-close equity value of $854m. The deal is worth 2.8x Rimini Street's estimated reve

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