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Private Equity

Apptio Shares Surge On Deal To Go Private

by thestreet.com posted 2months ago 14 views
Click to view a price quote on APTI. : Shares of Apptio Inc.  (APTI) surged more than 50% on Monday, Nov. 12, after the company said it had agreed to be bought by tech-focused private-equity firm Vista Equity Partners for $1.94 billion. Under the agreement, Apptio shareholders will receive $38 in cash per share, representing a 53% premium to the unaffected closing price as of Friday, Nov. 9. Shares of Apptio jumped $12.83, or 52%, to $37.68. Apptio, whose products include cloud-based and hybrid business management software, was founded in 2007 and went public in September 2016 at $16 a share.

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