Actua completes sale of GovDelivery to investor group
Actua announced the consummation of the sale of GovDelivery, the leading provider of cloud-based government communications software solutions, to an investor group led by Vista Equity Partners for $153 million in cash, subject to adjustment for working capital, cash, debt and other items. Actua will realize approximately $133 million in cash in connection with the transaction. Approximately $10 million of Actua's proceeds are being held in escrow and will be subject to potential indemnification claims; subject to any such claims, the escrowed proceeds will be released to Actua in October 2017. Actua does not expect to owe any non-reimbursable income taxes in connection with the transaction.