ACTIVE Network is a leader in cloud-based Activity and Participant Management solutions. The company is headquartered in San Diego, California and serves around 55,000 global customers. Today, the company announced entering a definitive agreement with Vista Equity Partners.

The agreement was for the acquisition of Vista Equity Partners of ACTIVE Network. Vista Equity is a private equity firm focused on software investments, data and technology enabled businesses. The transaction would be paid in cash valued around USD1.05 billion.

The terms of the agreement state Vista to commence a tender offer to acquire all of ACTIVE's outstanding shares of common stock. The price was valued USD14.50 per share piece and would be paid in cash. This represented around 111% of ACTIVE's average closing stock price.

ACTIVE appointed Citi to be its financial advisor while BofA Merrill Lynch was hired to advise Vista. DLA Piper LLP was hired as ACTIVE's legal advisor. Kirkland & Ellis LLP would act as Vista's legal advisor. BofA Merrill Lynch, BMO Capital Markets Corp and RBC Capital Markets had agreed to provide financing in connection with the transaction.