Global Payments has acquired the communities and sports divisions of ACTIVE Network, which delivers cloud-based enterprise software that helps Web users find and register for events online. The outdoors division of ACTIVE will be retained by its current owner, Vista Equity Partners.
“With ACTIVE Network, we are adding an enterprise software business operating in two new vertical markets that are highly fragmented and underpenetrated with attractive growth fundamentals,” said Jeff Sloan, CEO of Global Payments in a statement. “We also are delighted to enter into a strategic partnership with Vista Equity Partners to provide payment technology expertise to their portfolio of companies.”
Vista will receive $600 million of Global Payments stock and $600 million in cash. The transaction is expected to close in Q4 of 2017.