Vista Equity Partners Acquires Active Network For $1.05 Billion

Vista Equity Partners Acquires Active Network For $1.05 Billion

Active Network Inc (NYSE:ACTV) has agreed to an acquisition by private equity firm Vista Equity Partners in a cash-only deal worth $1.05 billion. Active is a leader in online registration for business conferences, marathon and other events.

active network

The San Diego,CA based Active Network Inc (NYSE:ACTV), according to a statement today, will tender and offer to acquire all its outstanding shares of common stock at $14.50 per share. The offer places a 27 percent premium over its closing price last Friday. The board has endorsed the offer and urges its stockholders to accept the company’s offer.

Gates Capital Management Reduces Risk After Rare Down Year [Exclusive]

Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More

Acquisition will allow Active Network to restructure company

According to Andre Sequin, an analyst with RBC Capital Markets, the acquistion will allow Active to go private restructure the company before a return to public trading. Last May, both Chief Executive Officer Matthew Landa and Chairman David Alberga resigned their positions though each remained on the board.

“There’s an opportunity to clean it up away from the public eye,” Sequin said. “I wouldn’t be surprised to see Active as a public company again in about five years.”

Non-tendered shares to be acquired

Non-tendered shares will be acquired in a second-step merger at the cash price that Active Network Inc (NYSE:ACTV) is presently offering. At the time of this writing (10:53 AM in New York), Active was trading at 14.35, up nearly 26 percent.

“The partnership with Vista will position us to execute on our strategy and further enhance our industry leadership,” Jon Belmonte, Active’s interim CEO, said in the statement. “For our customers, we will continue to focus on delivering the strongest product offerings through our advanced technology platform.”

Active Network Inc (NYSE:ACTV) expects the deal to close before the end of the fourth quarter, according to the statement.

Company thrilled to be valued over a billion dollars

Active Network Inc (NYSE:ACTV) claims the State of California and Cisco Systems, Inc. (NASDAQ:CSCO), along with many others, has customers and has been the target of a buyout long before agreeing to the Vista deal. While analysts had expected Active Network Inc (NYSE:ACTV) to be acquired around $800 million, the company will be well chuffed to have been valued over a billion dollars. Based on takeover speculation, Active Networks’ shares have more than doubled this year.

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala.
Previous article J.C. Penney Shareholders May ‘Be Left Holding The Bag’: Northcoast
Next article Free burgers await furloughed US federal workers

No posts to display