Vista Equity Partners is in talks to acquire KnowBe4 (NASDAQ:KNBE) for USD 4.5 billion in a leveraged buyout. The said deal values KNBE shares at almost USD 25 each, representing a premium of about 15 per cent compared to Tuesday’s closing price of USD 21.59.

The report of the acquisition comes after the company confirmed last month it had received a nonbinding proposal from Vista. KNBE shares surged almost 30 per cent on the statement after Vista was said to offer USD 24 a share, a nearly 40 per cent premium compared to the closing price on the last day before the announcement.

However, as per media reports, the said deal is expected to be confirmed later. It would make KnowBe4 the third take-private deal agreed upon by the private equity firm this year.

Reportedly, Vista previously agreed to pay USD 8.4 billion for Avalara (NYSE:AVLR) and USD 16.5 billion for Citrix Systems (NASDAQ:CTXS). Vista Equity Partners managed nearly USD 95 billion.

KnowBe4 shares are up over 11 per cent in pre-open Wednesday to trade at just over USD 24 a share.