Top News Acquired For $1.6 Billion

Provo, Utah-based said this morning that it has agreed to be acquired by private equity firm Permira, in a deal worth $1.6 billion. said that the deal was worth $32 per share. Spectrum Equity will remain an investor in the company, as will President and CEO Tim Sullivan, and CFO and COO Howard Hochhauser. said the deal was a 41 percent premium over its closing stock price on June 5, 2012, when the news first broke of its interest in finding a buyer for the company.





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