Apptio to Be Acquired by Vista Equity Partners for $1.94 Billion

On November 11, 2018, Apptio, a Washington-based company that develops technology business management software, announced that it has entered an agreement to be acquired by Vista Equity Partners, a tech-focused private equity firm, for a total value of approximately $1.94 billion. Apptio shareholders will receive $38.00 in cash per share, representing a 53 percent premium to the unaffected closing price as of November 9, 2018. Wilson Sonsini Goodrich & Rosati is representing Apptio in the transaction.

Apptio's board of directors unanimously approved the deal, with an expected transaction close in the first quarter of 2019, subject to customary closing conditions, including approval of Apptio shareholders and antitrust approval. The merger agreement also includes a 30-day "go-shop" period, which permits Apptio's board and advisors to actively initiate, solicit, encourage, and potentially enter negotiations with parties that make alternative acquisition proposals. There can be no assurance that this 30-day "go-shop" will result in a superior proposal, and Apptio does not intend to disclose developments with respect to the solicitation process unless and until the board makes a determination requiring further disclosure.

The WSGR team advising Apptio in the transaction includes:

M&A:
Mike Ringler
Derek Liu
Matt Baudler
Blair Markovic
Erin Malone-Shkurkin

Corporate:
Patrick Schultheis
Michael Nordtvedt
John Brust
Bryan King
Jacob Wittman

Corporate Finance:
John Mao
Eric Franks
Dana Hall
Nathan Cao
Arjun Adusumilli

Technology Transactions:
Manja Sachet
Jennifer McGrew
Khurram Awan
Sean Withall

Employee Benefits and Compensation:
Scott McCall
Jackie Tokuda
Mark Cornillez-Ty
Ena Kaur

Employment Law:
Rebecca Stuart
Aleksandr Katsnelson

Tax:
Greg Broome
Andrew Bryant
Joseph Mandry

Antitrust:
Jamillia Ferris
Christopher Williams

Data Privacy:
Matt Staples
Daniel Chen

Real Estate:
James McCann
Lee Cumberland

Regulatory:
Stephen Heifetz

For more information, please see Apptio's press release.