ISS and Glass Lewis Back Thoma Bravo’s Acquisition of Kneat

Key Facts

In a move that significantly strengthens the path toward completing a key software sector merger, leading proxy advisory firms ISS and Glass Lewis have recommended that Kneat shareholders vote in favor of the acquisition by Thoma Bravo. The transaction features an all-cash offer of $6.50 per share for Kneat (TSX: KSI). The advisors highlighted the robust process conducted by the board and the valuation certainty provided by the cash consideration as primary reasons for their support.

This recommendation arrives as private equity interest in specialized technology firms remains high, with Thoma Bravo, which manages over $160 billion in assets according to company filings, looking to integrate Kneat’s digital compliance solutions. Support from major proxy firms is often a decisive factor in securing the necessary shareholder majority, particularly as the $6.50 offer aims to provide a premium exit for investors amid broader market volatility.

Investors are now focusing on the upcoming shareholder vote as the next major catalyst for the deal's closure. While specific current price data for KSI is unavailable in this report, such recommendations typically provide price support near the offer level. On the macroeconomic front, market participants are looking ahead to the FOMC Minutes scheduled for July 8, 2026, which may provide further clarity on the financing environment for large-scale private equity transactions.