Mimecast Limited (NASDAQ:MIME) made an announcement on Tuesday, according to which it had entered into a definitive agreement whereby Permira, a global PE firm, will acquire the company for $80/share in an all-cash transaction.

The announcement came after a report in the Wall Street Journal on October 27 that the company had begun exploring all options with bankers, including a potential sale.

Shareholders may have hoped for slightly more in an offer, but the majority of analysts do not believe they will vote against the approval of the deal.