Information technology services firm Presidio Inc. is going private two years after its initial public offering as the company’s board accepted a $2.1 billion all-cash acquisition offer from private equity firm BC Partners.

The deal values Presidio shares at $16 each, a 21% premium over the company’s previous closing price of $13.19 Tuesday.

The price is below Presidio’s peak of $19.32 per share in January 2018, but it’s still a fairly strong one coming in at 18% over the company’s 60-day volume-weighted average share price. Presidio shares have mostly traded in a range of $12.50 to $15 over last year with only a rare spike above $16.

“We believe this transaction will provide immediate and substantial value to Presidio stockholders, while providing us with a partner that can add strategic and operational expertise to our business, with a focus on executing our long-term strategy,” Bob Cagnazzi, chief executive officer of Presidio, said in a statement.

BC Partners will be the fourth entity to own Presidio over the last 10 years, CRN pointed out. The company was purchased by private equity firm American Securities for an undisclosed price in 2011. It then sold the company to Apollo Global Management in 2014. Presidio went public in a $233 million IPO in October 2017 before once again changing hands today.

Presidio’s new owner, BC Partners is a London, U.K.-based private equity firm with 22 billion euros ($24.52 billion) under management. Previous high-profile acquisitions by the firm include the purchase of CenturyLink’s data center operations in 2016 and the purchase of Chewy, a pet e-commerce company, from PetSmart for $3.4 billion in 2017.

Founded in 2003, Presidio specializes in cloud computing, digital infrastructure and security solutions. The company offers computer networking, collaboration and cybersecurity products, as well as data analytics and mobile services.

More recently, in partnership with Intel Corp., Presidio developed a solution for companies that have invested in cloud or subscription-based services but lack visibility into full usage and consumption.

Speaking to SiliconANGLE’s livestreaming studio theCUBE in September, Presidio Chief Technology Officer Raphael Meyerowitz explained that Presidio Concierge was a cloud subscription management and analytics platform designed from the ground up to help companies that “can never actually figure out what their costs are.”

Presidio’s acquisition is expected to be completed in the fourth quarter, subject to customary conditions, including approval by the holders of a majority of the outstanding shares. Notably, the deal includes a 40-day “go-shop” period that allows Presidio to consider alternative offers.

Image: Presidio