Active Network, which provides online tools and data management for events, said on Monday that it had agreed to be acquired by the private equity firm Vista Equity Partners in a deal valued at $1.05 billion.
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.
Vista Equity, which has offices in Austin, Tex., Chicago and San Francisco, has been active of late, with 14 previous acquisitions this year, including a $1.05 billion buyout of Websense, a cybersecurity company in June, according to Standard & Poor’s Capital IQ.
“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.
Citigroup and the law firm DLA Piper advised Active Network. Bank of America Merrill Lynch and the law firm Kirkland & Ellis advised Vista Equity. Bank of America Merrill Lynch, RBC Capital Markets and BMO Capital Markets have agreed to provide debt financing in connection with the transaction.
