Impravata Inc. opened 31.2% on Wednesday on news that it is to be acquired by an affiliate of Thoma Bravo, a private equity investment firm.

As per the deal agreement, Thoma Bravo will pay $19.25 per share for IMPR, a value 33% higher than their closing value of $14.50 on Tuesday. The total value of the deal is $544 million.

The Lexington, MA based healthcare IT company provides authentication and access management solutions for hospitals. It also provides services for customers in the financial services sector as well as the U.S. government.

Thoma Bravo has a 30+ year history in equity investment, and hopes to collaborate with company management to improve business operations and provide monetary support in order to supplement growth initiatives, as per their official statement.

Imprivata currently sits at a Zacks Rank #1 (Strong Buy).

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