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DLA Piper represented ACTIVE Network, a San Diego-based software company, in its $1.05 billion 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 percent 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. DLA Piper also advised ACTIVE Network on its initial public offering in 2011.
The DLA Piper team representing ACTIVE Network was led by corporate partner Michael Kagnoff and included partner Neil Balmert (tax); partners Mark Boxer and James Telfer and counsel Merrili Escue (employee benefits); partner John Reed, Jeffrey Thacker and counsel David Clark (corporate and securities); partners Daniel Eisner and Jamie Knox (corporate and finance); partner Mark Lehberg (IP); partner Paolo Morante (antitrust); and associates Jessica Natali, Jon Olsen and Patrick O’Malley (corporate and securities).