Court gives Magnet Forensics approval for Thoma Bravo deal

Magnet Forensics Inc. says a court has granted it a final order allowing Thoma Bravo's $1.8-billion takeover of the cybersecurity company to move forward.

Waterloo, Ont.-based Magnet says the Ontario Superior Court of Justice’s approval means the deal is now expected to close around April 6.

When the deal closes, Magnet’s subordinate voting shares will be delisted from the Toronto Stock Exchange.

The court approval comes despite shareholder Nellore Capital Management LLC disagreeing with Thoma Bravo’s valuation of Magnet and threatening court action if better terms could not be reached.