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 $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.
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