Bailador Technology Investments’ (ASX:BTI) lifts stake in Instaclustr after NetApp’s acquisition

• Capital fund Bailador Technology Investments (BTI) increases its carrying value in Instaclustr to $118 million after software company NetApp announced it has signed a definitive agreement to acquire Instaclustr
• The valuation uplift of $54 million is an increase of 38 cents per NetApp share pre-tax, subject to normal final adjustments, and closing proceeds and exchange rate movements
• On completion of the transaction, Bailador will realise its full position in Instaclustr in cash with proceeds expected to be received in FY22
• BTI shares were up 18.3 per cent, trading at $1.49

ASX-listed technology expansion capital fund Bailador Technology Investments (BTI) has increased its carrying value in Instaclustr to $118 million after global cloud-led, data-centric software company NetApp announced it has signed a definitive agreement to acquire Instaclustr.

The valuation uplift of $54 million is an increase of 38 cents per NetApp share pre-tax, subject to normal final adjustments, and closing proceeds and exchange rate movements.

“Instaclustr has been a standout performer in the Bailador portfolio since investment, and the sale of the company to NetApp represents a great outcome for both Bailador and Instaclustr shareholders,” said co-founder and Managing Partner David Kirk.

On completion of the transaction, Bailador will realise its full position in Instaclustr in cash with proceeds expected to be received in FY22.

Commenting on the acquisition George Kurian, NetApp CEO said their combined services will “give customers a cloud operations platform that provides the best and most optimised foundation for their applications in the public clouds and on premises”.

The acquisition of Instaclustr builds on a series of strategic acquisitions made by
NetApp to deliver a leading best-of-suite platform for CloudOps.

BTI shares were up 18.3 per cent, trading at $1.49 per share as of 1:22 pm AEST.