Friday, July 11, 2014

Texas lures Active Network with $8.6M

The exodus continues.

Active Network’s move was widely expected. Private equity investor Vista Equity Partners, which manages $8 billion in assets, has a history of moving firms it acquires out of California.

Vista Equity bought three San Diego companies in 2013 – Active Network, Websense and Omnitracs. It relocated Websense, a San Diego cyber security software firm, to Austin earlier this year, after netting $4.5 million in incentives from Perry. The move eliminated 445 local jobs.

Now Omnitracs, a fleet tracking technology firm formerly owned by Qualcomm, ascends to the top of the relocation watch list.

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