Technology firm The Active Network, owner of StarCite, has
formed a committee of its board of directors to evaluate "expressions of
interest from outside parties ranging from an investment in Active Network to
an acquisition of the company," Active announced late Thursday.
The committee and the board will consider all alternatives,
"including the continued execution of its standalone plan," said
interim CEO Jon Belmonte in a statement accompanying Active's second-quarter
earnings report. The company offered no further information on any potential
transaction.
Active in the second quarter recorded $132 million in total
revenue, up from $122 million in the second quarter of 2012. Second-quarter
earnings before interest, taxes, depreciation and amortization were $22
million, up from $20 million last year.
Active did not release revenue information specific to StarCite.
In a Thursday conference call, Belmonte cited StarCite
as a key part of a new corporate initiative to target small and midsize
businesses with its meetings technology, including an updated version of its RegOnline product.
"We have a strong product offering and a strong
position in a largely untapped enterprise market and we've been moving this
offering more aggressively into the commercial space," Belmonte said. "We
also see great potential with the small and medium business market, where a
very PR-oriented competitor has historically enjoyed some degree of free rein.
Here, we will be leveraging our new updated RegOnline and newly integrated
StarCite functionality to further capitalize on this wide-open market
opportunity."
Belmonte also cited telecommunications firm Vodafone as a
new StarCite customer.
Active's board "is currently evaluating a wide range of
strong candidates," to serve as the company's new CEO, Belmonte said. Former
CEO Matt Landa and chairman David Alberga resigned in May.