Active Network Reports Q3 Net Revenue of $117.5MMonday, November 4, 2013
Active Network, the San Diego provider of online registration services, reported third quarter net revenue of $117.5 million, up 8 percent from the like quarter of 2012.
The third quarter net loss was $5.3 million, compared with a net loss of $6 million in the like quarter of last year.
For the nine months, Active reported net revenue of $355.9 million, compared with $325.2 million for the like period last year.
The net loss for this year through Sept. 30 was $25 million, compared with a net loss of $28.7 million for the like period of 2012.
Active, which agreed to be acquired by Vista Equity Partners in September for $1 billion, said the private equity firm began its tender offer to buy stock at $14.50 per share in cash payable without interest and less applicable withholding taxes. Any shares not tendered will be acquired in a second step merger at the same cash price, the company said.
The transaction is expected to close before the end of the fourth quarter of this year.
— Mike Allen