Shareholders of SciQuest voted their approval of a $25 million buyout by Trinity Ventures on Monday.
SciQuest will become a wholly owned subsidiary of Trinity Ventures and will no longer be publicly traded when the deal is complete.
The stock (Nasdaq: SQST) closed at $6.24 on Monday, up 3 cents.
“This is an important milestone for SciQuest and we are pleased that our shareholders have shared their support by voting in favor of this decision,” said Stephen Wiehe, president and CEO of SciQuest, in a statement. “We are excited to be one step closer to becoming part of Trinity Ventures and continuing to grow and focus on delivering the most value to our customers.”
Terms for the deal of some $6 per share were announced in April.