Thoma Bravo has completed its acquisition of Kneat, a digital validation and quality process automation provider based in Limerick, Ireland. The all-cash transaction is valued at approximately C$650 million ($466 million; €404 million). Following the deal, Kneat shares have ceased trading and will be delisted from the Toronto Stock Exchange.

Under the terms of the agreement, Kneat shareholders, excluding the rolling shareholder, are entitled to receive C$6.50 in cash per share. The agreement was originally announced in June and received shareholder approval during a special meeting in July.

Kneat’s Gx platform is designed for life sciences and highly regulated enterprises, with independent studies showing it can cut validation documentation man-hours by up to 50 percent. Chandler Gay, senior vice president at Thoma Bravo, stated that the firm looks forward to deploying operational expertise to help Kneat scale and innovate as a private company.