Apptio Inc logo

APTI - Apptio Inc News Story

$37.97 0.0  0.0%

Last Trade - 09/01/19

Sector
Technology
Size
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
$38/shr
    ** 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  urn:newsml:reuters.com:*: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:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))
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