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Subsequent events | 9 Months Ended
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Sep. 30, 2025
Subsequent Events [Abstract] |
Subsequent events | Subsequent events Merger Agreement On October 28, 2025, the Company entered into the Merger Agreement with Parent and Merger Sub. Parent and Merger Sub are affiliates of Francisco Partners. Pursuant to the Merger Agreement, Merger Sub will be merged with and into the Company, with the Company surviving as a wholly owned subsidiary of Parent. Upon the terms and subject to the conditions set forth in the Merger Agreement, each share of our common stock that is issued and outstanding as of immediately prior to the Effective Time (other than any shares held by the Company as treasury stock, owned by Parent or any of its subsidiaries (including Merger Sub), or any shares of our common stock as to which appraisal rights have been properly exercised in accordance with Delaware law) will be automatically cancelled, extinguished, and converted into the right to receive cash in an amount equal to $13.05, without interest thereon. The Merger is expected to close in the first quarter of 2026, subject to customary closing conditions and regulatory approvals including the adoption of the Merger Agreement by the affirmative vote of the holders of a majority of the outstanding shares of our common stock. Upon consummation of the Merger, the Company will become a privately held company and our common stock will no longer be listed on any public market. Voting Agreements In connection with the execution of the Merger Agreement, Parent and the Company entered into the Voting Agreements with: (i) certain investment funds affiliated with Vista and (ii) John Strosahl and Dean Hager. Under the Voting Agreements, the shareholders party thereto have agreed to vote or execute consents with respect to all of their shares of our common stock in favor of the adoption of the Merger Agreement and approval of the Merger, subject to certain terms and conditions contained therein.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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