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In connection with the previously announced agreement to acquire ACTIVE Network (NYSE:ACTV) (the “Company” or “ACTIVE”), Vista Equity Partners (“Vista”) and ACTIVE today announced that the marketing period for the merger agreement commenced on October 25, 2013 and will end on November 20, 2013. Athlaction Merger Sub, Inc. currently expects to waive the condition to the Offer relating to the marketing period prior to the end of the marketing period. Accordingly, in order to coincide with the expected closing of the related debt financing transactions, Athlaction Merger Sub, Inc. has extended the expiration of its tender offer to acquire all of the outstanding shares of common stock of the Company at a price of $14.50 per share, net to the seller in cash without interest, to 5:00 p.m., New York City time, on November 14, 2013, unless further extended. The tender offer was previously scheduled to expire at 12:00 midnight, New York City time, on November 6, 2013 (one minute after 11:59 P.M., New York City time, on November 5, 2013). All other terms and conditions of the tender offer remain unchanged.
The depositary for the tender offer has advised that, as of the close of business on October 28, 2013, a total of approximately 274,380 shares of the Company’s common stock were validly tendered and not properly withdrawn in the tender offer.
About ACTIVE NETWORK
ACTIVE Network is the leading provider of Activity and Participant Management™ solutions. ACTIVE’s technology platform makes managing and operating all types of activities, events and organizations smarter and more efficient. ACTIVE powers over 55,000 global customers and builds leading vertical technology applications for the markets it serves. ACTIVE’s leading ACTIVE Works cloud platform scales with its customers, large and small. ACTIVE Network was founded in 1999, is headquartered in San Diego, California, and has offices worldwide. For more information, please visit:
http://www.activenetwork.com or follow the Company @ACTIVENetwork.
About Vista Equity Partners
Vista Equity Partners, a U.S. based private equity firm with offices in San Francisco, Chicago and Austin, currently invests over $7 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For further information please visit
Notice to Investors
This press release is not a recommendation, an offer to purchase or a solicitation of an offer to sell shares of ACTIVE’s common stock.