DLA Piper represents ACTIVE Network in $1.05bn private equity deal

DLA Piper has represented ACTIVE Network, a San Diego-based software company, in its $1.05bn (£640m) acquisition by Vista Equity Partners, the largest internet-leveraged buyout in 2013.

Vista acquired all of the outstanding shares of ACTIVE Network’s common stock for $14.50 per share in cash, representing a premium of approximately 111 per cent to ACTIVE Network’s year-to-date average closing stock price at the time of the announcement of the acquisition.

ACTIVE Network was founded in 1999 and has since grown to more than 3,000 employees worldwide following its acquisition of several small event registration software companies. 

The DLA Piper team representing ACTIVE Network was led by corporate partner Michael Kagnoff.