Global Payments Inc. has agreed to acquire the communities and sports divisions of ACTIVE Network from Vista Equity Partners in a stock-and-cash transaction valued at approximately $1.2 billion, including a tax asset.
Net of the tax asset, the effective purchase price is approximately $1.0 billion. Vista will receive $600 million of Global Payments stock and $600 million in cash. Global Payments will use its credit facility and cash on hand to fund the deal.
The transaction is expected to close in the fourth quarter, subject to regulatory approvals. Global Payments expects the transaction to have an immaterial impact on 2017 adjusted EPS results.
ACTIVE Network provides 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.