26.09.2016 14:42:25
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Actua To Sell GovDelivery To Vista Equity-led Investor Group For $153 Mln
(RTTNews) - Actua Corp. (ACTA) said it has entered into a definitive agreement with an investor group led by Vista Equity Partners under which it will sell GovDelivery, a provider of cloud-based government communications software solutions, for $153 million in cash.
The deal is subject to certain adjustments, including working capital, cash, debt and other items. The transaction is expected to close in the fourth quarter of 2016.
Upon completion of the transaction, Actua expects to realize net cash proceeds of approximately $132 million. A portion of the proceeds will be held in escrow and will be subject to potential indemnification claims. Actua does not expect to owe any non-reimbursable income taxes in connection with the transaction.
The company intends to use its proceeds from the transaction to enhance shareholder value, remaining focused on building its vertical cloud businesses and repurchasing shares.
![](https://images.finanzen.at/images/unsortiert/wertpapierdepot-absichern-aktienchart-boerse-750493204-260.jpg)
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