Active Network, owners of the online cycling and running registration website Active.com 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]
