Vista Equity buying Active Network for $904.8M

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Associated Press

Posted on September 30, 2013 at 6:00 AM

Updated Monday, Sep 30 at 6:02 AM

SAN DIEGO (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 more than 26 percent in premarket trading Monday.

San Diego-based Active Network said Monday that it expects the buyout to close before the fourth quarter's end.

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