Inovalon to be bought in a $7.3 billion deal by group led by Nordic, that include company's CEO

Inovalon Holdings Inc. INOV, -1.12% announced Thursday an statement to beryllium acquired by a radical led by Nordic Capital, and including Inovalon Chief Executive Keith Dunleavy, successful a currency woody valued astatine $7.3 billion. Under presumption of the deal, Inovalon shareholders volition get $41 for each Inovalon stock they own, representing a 10.2% premium to Wednesday's closing terms of $37.22. Shares of the cloud-based, data-driven healthcare institution was up 7.7% premarket anterior to a trading halt for news, with trading expected to resume astatine 8:30 a.m. Eastern. Others successful the acquiring radical see Insight Partners, 22C Capital and definite different investors. The woody is expected to adjacent successful precocious 2021 oregon aboriginal 2022. "Today's announcement is the culmination of a thorough process of evaluating strategical alternatives and represents a compelling accidental to present contiguous and much definite currency worth to stockholders astatine a important premium," said William Teuber, pb autarkic manager connected Inovalon's board. Inovalon's banal has soared 104.8% twelvemonth to day done Wednesday, portion the S&P 500 SPX, -1.07% has gained 17.2%.