Cellebrite to acquire Corellium for enterprise value of $170M in cash

Cellebrite (CLBT) announced its agreement to acquire Corellium, a leader in Arm-based virtualization software. Cellebrite intends to acquire Corellium for an enterprise value of $170 million in cash with $20 million converted to equity at closing. Corellium securityholders will receive up to an additional $30 million in cash based on the achievement of certain performance milestones over the next two years. The deal is expected to close this summer, subject to approval of the Committee on Foreign Investment in the United States and other customary closing conditions. Cellebrite plans to provide additional information about Corellium’s anticipated financial contribution after the transaction closes.