RADNOR, Pa., Dec. 12, 2017 (GLOBE NEWSWIRE) -- Actua Corporation (Nasdaq:ACTA) announced the successful completion of its previously announced transaction with CVC Growth Fund, whereby CVC Growth indirectly acquired all of Actua’s interests in VelocityEHS and Bolt Solutions.
The transaction was approved by Actua’s stockholders at a special meeting held on December 7, 2017. Actua realized proceeds of approximately $328 million in cash in the transaction; a portion of those proceeds will be used to pay remaining transaction expenses.
Evercore Partners served as Actua’s financial advisor, and Dechert LLP served as Actua’s legal advisor. Fried, Frank, Harris, Shriver & Jacobson LLP served as CVC’s legal advisor.
About Actua
Actua Corporation (Nasdaq:ACTA), the multi-vertical cloud company, brings the power of the cloud to vertical markets and processes. Actua is pioneering the second wave of the SaaS revolution—the vertical wave—by growing cloud businesses that are transforming their markets. With approximately 700 employees delivering unrivaled domain knowledge, agility and responsiveness to our customers, Actua’s rapidly growing vertical cloud businesses are positioned to lead this wave. For the latest information about Actua and its brands, please go to www.actua.com.
About VelocityEHS
VelocityEHS is the leading global provider of cloud-based environment, health and safety (EHS) software. Its comprehensive software platform and innovative mobile solutions aim to make enterprise-level EHS functionality accessible and affordable to businesses of all sizes, helping them solve complex compliance and regulatory challenges in simple ways. Today, more than 13,000 customers worldwide, from virtually every industry, trust VelocityEHS and its solutions to improve EHS performance. Recognized by the industry’s top independent analysts, including leading scores in the Verdantix 2017 Green Quadrant Analysis and 2017 NAEM EHS & Sustainability Software Ratings Report, VelocityEHS helps customers reach their EHS goals faster with quick implementations, affordable solutions and unparalleled customer support. VelocityEHS is headquartered in Chicago, Illinois with locations in Canada, the UK and Australia. For more information, visit www.EHS.com.
About Bolt
BOLT® Solutions Inc., the leading provider of digital distribution solutions to the P&C insurance industry, is helping insurers transform the way they sell and market their products to consumers and small business owners. Compatible with existing infrastructure, The BOLT PlatformTMprovides a single interface that connects seamlessly with back-office systems and improves carrier reach through a vast market network of new products. Insurers gain the ability to bundle their offerings with those from other carriers, positioning them to meet all of the customer’s needs without taking on additional risk. Designed to connect carriers and their agents directly to consumers and small business owners, the BOLT Platform delivers the optimized solutions, and ideal experience customers expect today. For more information, visit www.boltinc.com.
About CVC Growth Fund
In 2014, CVC Capital Partners formed a new team to target smaller growth-oriented companies through its dedicated CVC Growth Fund. The fund focuses on middle-market, high-growth companies in the software and technology-enabled business services sector. The fund primarily targets equity investments between $50mn and $200mn in North America and Europe.
