Indus International Going Private

Private equity firm Vista Equity Partners will buy the software company for $240 million.
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Indus International

(IINT)

said Monday that it agreed to be acquired by private equity firm Vista Equity Partners for roughly $240 million in cash.

San Francisco-based Vista will pay $3.85 a share for the software concern, representing a 53% premium over Friday's closing price of $2.52. The deal is expected to be completed within 90 days.

After the deal closes, Vista Equity plans to combine Indus with MDSI Mobile Data Solutions, one of the firm's portfolio companies. MDSI makes mobile workforce-management software.

Shares of Indus surged $1.15, or 46%, to $3.67 early Monday.