News Corp. and Permira Newcos have signed an agreement to make N.D.S. a private company, sealing a deal that will take N.D.S. off the public market, News Corp. announced Aug. 14
The two companies will pay about $63 per share for N.D.S., with Permira Newcos holding about 51 percent and News Corp. 49 percent of N.D.S. once the deal is complete. An independent board of advisors for N.D.S. approved the agreement and will recommend shareholders approve the deal.
Citigroup, which is part of the advisory board, said the offer is fair, though Daniel Meron, a technology equity analyst at RBC Capital Markets, said in a July research note that he believed an offer to take N.D.S. private for less than $66 per share would not reflect the company's full value.
The transaction is expected to close by the end of the year or early 2009.

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