Apptio Inc logo

APTI - Apptio Inc News Story

$37.97 0.0  0.0%

Last Trade - 09/01/19

Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £162.4m
Position in Universe th / 6857

BUZZ-Apptio Inc: Set for its best day on go-private deal

Mon 12th November, 2018 11:16am
** Shares of software company  APTI.O  jump 51.3 pct to
$37.60 premarket after entering deal to be taken private at
    ** APTI, the top pct gainer among U.S. stocks before the
bell, is on track for its best day ever
    ** Private equity firm Vista Equity Partners to buy APTI for
$1.94 bln in cash*:nL4N1XN204
    ** Offer price, which represents ~53 pct to Apptio's closing
price on Friday, is in line with Wall Street's median PT
    ** APTI's board has approved the deal, but agreement
includes a 30 day go-shop period, which allows co to seek out
competing offers
    ** RBC says deal value is fair given the risk of moderating
subscription rev in 2019, raising PT to $38 from $35
    ** Brokerage adds that risk of a higher bid is relatively
low given the premium, Apptio's size and a relatively limited
set of potential strategic suitors
    ** Jefferies, however, says that there is a slight potential
for other parties to weigh in, but calls the offer price fair
    ** Apptio, whose products include cloud-based and hybrid
business management software, was founded in 2007 and went
public in September, 2016 at $16/shr
    ** Stock has jumped ~55 pct from its IPO price 

 (Reporting by Amy Caren Daniel in Bengaluru)
 ((Reuters Messaging:
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.