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Vista Equity Partners to Acquire Xactly for $564M

Vista Equity Partners to Acquire Xactly for $564M

Forbes. Xactly stockholders will receive $15.65 in cash per share, representing a 17% premium to the closing price as of May 26, 2017 and a 31% premium compared to its 3-month volume weighted average price per share. “This announcement represents a very positive event for our stockholders and enables Xactly to build upon its successful 12-year history,” said Christopher W. Cabrera, founder and CEO of Xactly Corporation. “We are confident that Vista is the ideal partner to accelerate our growth initiatives and enable Xactly to focus on innovation and customer success while forging a new era of incentive compensation management.” “Xactly’s market leadership in cloud incentive compensation solutions makes it an ideal addition to the Vista family of companies,” said Brian Sheth, Co-Founder and President of Vista Equity Partners. “We are looking forward to bringing Vista’s resources and expertise to help drive Xactly’s next phase of innovation and growth.” Xactly’s headquarters will remain in San Jose. The deal is expected to close in the third quarter of 2017, subject to customary closing conditions, including the approval of Xactly’s stockholders and antitrust approval in the United States. JP Morgan Securities LLC is acting as exclusive financial advisor and Wilson, Sonsini, Goodrich & Rosati PC, is serving as legal advisor to Xactly. Vista’s legal advisor is Kirkland & Ellis LLP. As reported by ExitHub earlier this year, Vista agreed to acquire Toronto-based global FinTech leader DH Corp (TSX: DH) known as D+H, for an enterprise value of $4.8 billion. Last December, Vista’s Calif.-based portfolio company PowerSchool agreed to acquire the SunGard K-12 business from FIS (NYSE: FIS), for $850 million. In September, Vista agreed to acquire digital marketing platform GovDelivery for $153 million, as well as Santa Clara, Calif.-based cyber-security company Infoblox Inc. (NYSE: BLOX) for $1.6 billion, Photo: Robert F. Smith, founder, chairman and CEO of Vista Equity Partners. (Bloomberg/Getty Images)]]>

Vista Equity Partners to Acquire Xactly for $564M

Vista Equity to Acquire GovDelivery SaaS Platform from Actua $ACTA for $153M

Vista Equity Partners agreed to acquire Santa Clara, Calif.-based cyber-security company Infoblox Inc. (NYSE: BLOX) for $1.6 billion. Vista Equity Partners, with offices in Austin, Chicago and San Francisco, and over $26 billion in capital commitments, is a leading private equity firm focused on investing in software and technology-enabled businesses. The firm is led by billionaire Robert F. Smith, its founder, chairman and CEO, who has an estimated net worth of $2.5 billion according to Forbes. GovDelivery is used by more public sector organizations for digital communications than all other solutions combined, it says. The company has built an industry-leading platform for digital government communications used by over 1,800 customers, reaching over 120 million people. The company has dramatically expanded its investment to drive accelerating value to its customers over the past 24 months, doubling its investments in product development, security, and operations. GovDelivery launched major enhancements in 2016 to support advanced digital marketing, FedRAMP security compliance, and learning-enabled content while adding interactive text capabilities and an open source data management and open data platform through acquisitions. Over half of GovDelivery’s workforce has joined the company since January 1, 2015. “Under the strong leadership of CEO Scott Burns, we have transformed GovDelivery into a valuable, high growth company, and are confident that the company will continue its impressive growth trajectory,” said Actua’s chief executive Walter Buckley. “Since our acquisition of the business in 2009 for $20 million, GovDelivery has assembled a first-class management team and built out an industry-leading platform for digital government communications with a strong competitive moat. Through the execution of a highly effective growth strategy, GovDelivery has increased revenues by nearly 600 percent,” Buckley added. “Vista is a world class partner for our next phase of growth,” said GovDelivery chief executive Scott Burns. “This $153 million investment validates our strategy and is the largest single investment in a cloud-based government technology company to date.” “What sets GovDelivery apart is its success helping governments reach more people through its platform,” said Patrick Severson, board member and principal at Vista Equity Partners. Actua is a publicly traded venture capital firm formerly known as ICG Group Inc. It changed its name to Actua Corp in September 2014. Actua currently operates as a multi-vertical cloud company with over 900 employees. It has a market capitalization of over $490 million. The deal is subject to customary closing conditions and is expected to close in the fourth quarter of 2016. Upon completion, Actua expects to realize net cash proceeds of approximately $132 million. Stephens Inc. served as exclusive financial advisor to GovDelivery. Photo: Robert F. Smith, founder, chairman and CEO of Vista Equity Partners. (Bloomberg/Getty Images)]]>

Amplify Snack Brands $BTR to Acquire @Tyrrells From Investcorp for £300M

Amplify Snack Brands $BTR to Acquire @Tyrrells From Investcorp for £300M

Pennsylvania-based snack food company Utz Quality Foods Inc. agreed to acquire Alabama-based Golden Enterprises Inc. (NASDAQ: GLDC), maker of the Golden Flake brand, for $135.5 million. Earlier in July, Gores Holdings Inc. (NASDAQ CM: GRSHU, GRSH, GRSHW), a blank check company sponsored by private equity firm Gores Group LLC, agreed to acquire Hostess Brands LLC from private equity firm Apollo Global Management LLC (NYSE: APO) and Metropoulos and Co. in a $2.3 billion deal. In June, European private equity firm Bridgeport acquired Turkish dried fruit and nuts producer Peyman from its founders and Turkey’s Esas Holding in a $110 million deal. In March, private equity firm Clearlake Capital Group LP acquired New Jersey-based That’s How We Roll LLC, a marketer of branded snacks in North America. Investcorp’s sale of Tyrrells is its ninth exit in Europe in the last twelve months, following the sale of GL Education to Levine Leichtman Capital Partners; the sale of CSIdentity to Experian; the flotation of Asiakastieto on Nasdaq Helsinki; the sale of Denmark’s Icopal to GAF; the sale of N&W to Lone Star Funds; the ultimate full sale of Skrill Group to Optimal Payments (now renamed Paysafe Group plc); the flotation of Sophos Group plc on the London Stock Exchange and the complete exit of a minority stake in spare part distributer, Autodistribution. Investcorp is engaged in corporate buyouts, hedge funds and real estate, and has offices in New York, London, Bahrain, Abu Dhabi and Riyadh. Investcorp is one of the most active global mid-market private equity firms, with over 30 years of experience of successfully investing in North America and Europe and more recently in the MENA region. The firm combines the growth dynamics of Gulf capital and the alternative investment industry with international management discipline. Investcorp’s past and present private equity portfolio includes more than 150 investments totaling over $36 billion in transaction value. Notable previous investments included Tiffany & Co., Gucci, and Leyca. Investcorp was founded in 1982 by its chairman Nemir Kirdar. The firm’s executive chairman is Mohammed Bin Mahfoodh Al Ardhi.]]>