Kirkland & Ellis LLP advised Vista Equity Partners, a U.S.-based investment firm, on its sale of the communities and sports divisions of ACTIVE Network to Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, for approximately $1.2 billion, including a tax asset. ACTIVE Network delivers cloud-based, mission critical enterprise software, including payment technology solutions, to event organizers in the communities and health and fitness verticals. The outdoors division of ACTIVE Network will be retained by Vista Equity Partners. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the fourth quarter of 2017. The full press release is available here.
The Kirkland team was led by corporate partners Noah Boyens and Vlad Kroll along with Daniel Wolf, Bob Hayward, Josh Zachariah and Robert Goedert.