Vista Equity Partners Closes USD 1.94bn Acquisition of Apptio.
M2 EQUITYBITES-January 16, 2019-Vista Equity Partners Closes USD 1.94bn Acquisition of Apptio
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16 January 2019 - US-based investment firm Vista Equity Partners has closed its acquisition of US-based hybrid IT business management system provider Apptio, Inc. (NASDAQ: APTI), the firm said.
Under the terms of the agreement, Vista acquired all outstanding shares of Apptio common stock for a total value of approximately USD 1.94bn.
Apptio shareholders will receive USD 38.00 in cash per share, representing a 53% premium to the unaffected closing price as of November 9, 2018.
Apptio's headquarters will remain in Bellevue, with regional offices across the US, EMEA and APAC.
Apptio offers cloud-based applications.
Vista Equity Partners is a US-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than USD 43bn in cumulative capital commitments.
The firm exclusively invests in software, data and technology-enabled organisations.
As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realise their full potential.
Qatalyst Partners is serving as the exclusive financial advisor to Apptio and Wilson Sonsini Goodrich and Rosati is serving as legal advisor to Apptio. Vista's legal advisor is Kirkland and Ellis LLP.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jan 16, 2019|
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