Vista Equity buys SaaS company Apptio

Another deal for enterprise SaaS :

SNIP…

"Software company Apptio Inc said on Sunday it agreed to be bought by private equity firm Vista Equity Partners for $1.94 billion in cash, two years after going public. Vista will take the company private for $38 per share, a premium of about 53 percent to Apptio stock’s last close.

Apptio, whose products include cloud-based and hybrid business management software, was founded in 2007 and went public in September of 2016 at $16 per share." :

https://www.reuters.com/article/us-apptio-m-a-vista-equity-p…

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SAP buys a cloud company pre-IPO for 8 B.

https://www.forbes.com/sites/alexkonrad/2018/11/11/sap-swoop…

Rob

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“Software company Apptio Inc said on Sunday it agreed to be bought by private equity firm Vista Equity Partners for $1.94 billion in cash, two years after going public. Vista will take the company private for $38 per share, a premium of about 53 percent to Apptio stock’s last close”

Should also be noted that this is almost 10% below the 52 week high for APTI, which was hit less than two months ago. There are some people who will lose money on this acquisition.

Qualtrics and Athenahealth also were acquired over the weekend. Qualtrics was private, but was about to IPO. It’s rumored to be ~20 x revenue and 50-100% over the projected IPO pricing. Athenahealth was also substantially below the 52 week high ($135/share, almost 20% lower than the high from four months ago).

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