Apptio swallowed up by Vista Equity

By Arild Vågen - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=61504723

Apptio, Inc. (NASDAQ: APTI) announced on November 11 that it had entered into a definitive agreement to be acquired by Vista Equity Partners. Vista will purchase all outstanding shares of Apptio common stock for approximately $1.94 billion. Apptio shareholders will be paid $38 per share in cash. The transaction has been approved by Apptio’s Board of Directors and is expected to close in the first quarter of 2019. CEO and Co-Founder at Apptio, Sunny Gupta, said, “As we look to the next chapter of Apptio, we are thrilled to provide immediate liquidity to our shareholders at a significant premium to market prices and we remain deeply committed to our mission, product innovation, geographical expansion, and the work of the TBM Council. Vista’s investment and deep expertise in growing world-class SaaS businesses and the flexibility we will have as a private company will help us accelerate our growth while helping us maintain our commitment to creating wildly successful customers.” Wilson Sonsini Goodrich & Rosati served as legal advisor to Apptio with Qatalyst Partners acting as financial advisor. Kirkland & Ellis LLP served as legal advisor to Vista.

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