Private Equity Firm to Acquire Active Network

Event management software company Active Network is being acquired by private equity firm Vista Equity Partners in an all-case deal of about $1.05 billion. The Active Network owns meetings tech provider StarCite.

“This announcement represents a very positive event for our stockholders and allows Active to build on its success to date,” said Jon Belmonte, interim CEO of Active Network. “We believe the partnership with Vista will position us to execute on our strategy and further enhance our industry leadership. For our customers, we will continue to focus on delivering the strongest product offerings through our advanced technology platform.” 

Under the terms of the agreement, Vista would acquire all shares of Active for $14.50 per share in cash. 

At the end of 2011, Active Network launched a Business Solutions division and as part of this launch the company acquired StarCite, a leader in global corporate strategic meetings management.