SAO PAULO (Reuters) -Brazilian cyber security firm ClearSale said on Friday it has entered into a deal to combine with local Experian ( EXPGF ) subsidiary Serasa under which all of its shares will be incorporated by Serasa Experian.

Each common share of ClearSale will be exchanged for a Serasa Experian redeemable share valued at 10.56 reais, a securities filing showed. That represents a 23.5% premium over the Brazilian stock's Oct. 3 closing price.

The agreement was reported by Brazil Journal earlier in the day.

ClearSale noted the deal will require approval from local regulators.