Active Network: Strong Growth With Plenty Of Runway
Sep. 30, 2013, 8:04 AM
Sep. 27, 2013, 5:06 PM
- Active Network (ACTV +0.6%) has received interest from Thoma Bravo and Vista Equity Partners, Bloomberg reports citing sources. GTCR chose not to bid after considering an offer. Second round bids are due Oct. 7.
- Bloomberg reports that a source sees ACTV fetching as much as $770M, or an ~8% premium to today's close.
- ACTV shares have run up 37.2% since the company announced it had received "expressions of interest" on Aug. 1.
Aug. 1, 2013, 5:17 PM
- Active Network (ACTV) says it has " received expressions of interest from outside parties ranging from an investment ... to an acquisition." The board has created a committee to evaluate its options.
- Though investors are naturally more interested in other matters, Active's guidance is light. Q3 guidance is for revenue of $113M-$116M and a net loss of $4M-$9M, worse than a consensus of $121.6M in revenue and EPS of $0.01. 2013 guidance is for revenue of $451M-$456M and a net loss of $35M-$41M vs. a revenue/EPS consensus of $462.7M and -$0.18.
- Q2 results, PR
Active Network, Inc., provide applications that form an online network connecting a fragmented and diverse group of activity and event organizers with a large base of potential participants.
Industry: Internet Software & Services
Country: United States