Global Payments To Buy Division Of Active Network From Vista Equity For $1.2 Billion In Cash And Stock
Global Payments Inc. said Thursday it has reached an agreement to acquire the communities and sports division of Active Network from private-equity firm Vista Equity Partners, in a cash-and-stock deal valued at about $1.2 billion. Active Network is a provider of cloud-based enterprise software, including technology used by event organizers in the sports and health and fitness world. Vista will receive $600 million of Global Payment shares plus $600 million of cash. The deal will be financed with cash on hand and an existing credit facility and is expected to close in the fourth quarter. Global Payments shares were not yet active premarket, but have gained 37% in 2017, while the S&P 500 has gained 10.7%.
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