Actua Corporation (ACTA) said on Monday it has entered into separate agreements to sell its three majority-owned businesses for $549 million in cash, including the $195 million sale of FolioDynamic to Envestnet (ENV), to maximize shareholder value. It stock jumped 28% in after-hours trading.

The company said it would raise between $472 million and $502 million from the deals, which would be distributed to shareholders during Q1 of 2018, adding that it expects net proceeds of $14.35 to $15.18 per share.

Following completion of the sale of VelocityEHS, Bolt Solutions and FolioDynamix, Actua said it intends to wind down its operations and discharge any remaining obligations it has relating to the transactions or otherwise.

Actua said it would significantly reduce its operating costs while it focuses on opportunities to monetize its remaining minority holdings, with the goal of selling its stakes in these holdings over a 12- to 18-month period and distributing the net proceeds to stockholders in one or more distributions.

It sold VelocityEHS, an EHS software company, and its interest in Bolt Solutions, an online insurance service platform, to CVC Growth Fund for $328 million.


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