Quantcast


Last updated: September 30. 2013 8:38AM - 184 Views
Associated Press



Story Tools:

Font Size:

Social Media:

(AP) Active Network Inc., a provider of cloud-based services, is being taken private for about $904.8 million by private equity firm Vista Equity Partners.


Vista will pay $14.50 per share, a 27 percent premium to Active's Friday closing price of $11.40. The companies put the transaction's total value at approximately $1.05 billion. FactSet says Active has about 62.4 million outstanding shares.


Active Network stock jumped $3, or 26.3 percent, to $14.40 in premarket trading Monday.


Active Network said that it expects the buyout to close before the fourth quarter's end.


The San Diego company expects to report its third-quarter financial results on Oct. 30.


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com