Acquired By Vista Equity

by editors on September 30, 2013

Active LogoActive Network, owners of the online cycling and running registration website was acquired today by private equity firm Vista Equity Partners for $1.05 billion. Yes, billion, according to a story in the New York Times.

Vista Equity is offering $14.50 a share in cash, a premium of 27 percent from Active Network’s closing stock price on Friday. . . Active Network went public in May 2011 at $15 a share. Earlier, this year, the stock fell as low as $3.95. . . “We believe the partnership with Vista will position us to execute on our strategy and further enhance our industry leadership, Jon Belmonte, interim chief executive of Active Network, said in a statement.

Yes, we believe a $1 billion dollar deal would help us further expand our online efforts as well. For the rest of the story click the link.

[Link: New York Times]

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