Monday, September 30, 2013
ACTIVE Network In $1.05 Billion Acquisition Deal With Vista Equity Partners
San Diego-based sports and activity registration service Active Network announced this morning that it has agreed to be acquired by private equity firm Vista Equity Partners, in a deal valued at approximately $1.05 billion. Active Network said that Vista Equity Partners will pay $14.50 per share in cash for Active Network, in a deal which has been approved by Active's board of directors. The deal will remove Active Network from the public markets. ACTIVE Network said it is being advised by Citi and DLA Piper LLP in the deal; Vista Equity is being advised by BofA Merrill Lynch and Kirkland & Ellis. The deal includes debt financing from BofA Merrill Lynch, RBC Capital Markets, and BMO Capital Markets Corp.