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Double-Take Software Inc. (DBTK) agreed to be acquired by a portfolio company of private-equity firm Thoma Bravo LLC in a deal valued at $242 million.

The maker of recovery software such as data replication, application availability and system-state protection applications in April said the board was reviewing the “indications of interest and considering other possible strategic transactions.”

Double-Take shareholders will receive $10.55 a share, a 9.2% premium to Friday’s close. As of then, the stock was down 3.3% this year.

Private-equity firms have been active in recent months in making smaller acquisitions than the historical multibillion-dollar deals the industry became famed for ahead of the financial crisis. Thoma Bravo two months ago agreed to a $143 million deal for online learning company Plato Learning Inc. (TUTR).

Double-Take recently reported a sharply wider loss in the first quarter as revenue rose a less-than-expected 3.9% to $18.9 million. The company said renewals rose 12% from a year earlier, in another sign of stabilization in the market.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481;Tess.Stynes@dowjones.com