Apptio (APTI) Snapped Up By Vista
Apptio (APTI) is surging over 50% today on news that Vista Equity Partners will buy the firm for $1.84 billion, equal to $38 a share.
The company entertained other offers and Vista seems like a good strategic fit. It’s possible a better offer will surface, but I don’t think it’s likely.
Therefore, let’s go ahead and book a gain on our Apptio position. If you feel like holding a small stake just in case there’s a better offer, go for it!
I’ll update you on the total booked gain at the end of the week. SELL APTI.
The rest of the market looks like garbage today. This could be partially related to many market participants being away from work and the bond market being closed, which sometimes seems to contribute to weird days. For now, all other ratings remain the same as they were on Friday.