Private Equity Firm Vista Equity Moves Second of Three CA Tech Firms Acquired Last Year to Lone Star State
Cloud-based software firm Active Network, LLC is the latest company to announce relocation from California to Texas, planning to move its headquarters from San Diego's Sorrento Mesa submarket to Dallas.
According to Texas Gov. Rick Perry's office, the move - aided by $8.6 million in public funds through the Texas Enterprise Fund (TEF) - will bring 1,000 jobs and $13 million in capital investment to the Lone Star State.
Active Network's relocation to Dallas will bring jobs in a variety of fields, including engineering, research and development and administration. The company's current lease of 122,649 square feet at 10182 Telesis Court in Seaview Corporate Center expires in 2017 and it was not known if Active Network will continue to occupy some of the space or sublease it.
"This TEF investment is another example of Texas' growing stature as a tech leader, and will further strengthen Dallas' growing economy." Perry said.
San Francisco-based Vista Equity Partners, which last year acquired Active Network along with two other California technology firms, Websense and Omnitracs, is said to be looking at KPMG Centre tower at 717 N. Harwood St., owned by World Class Capital Group of Austin to house Active Network. Vista Equity relocated Websense to Austin earlier this year.
Texas has landed a fair number of corporate relocations from California in recent months, most notably Toyota's plans to move its North American headquarters in Torrance to Plano.
Active Network CEO Darko Dejanovic said "with the creation of a state-of-the-art global headquarters in downtown Dallas, Active Network will strengthen our ability to drive innovation, share best practices, and support our culture of excellence."
"We see Dallas as an opportunity to centralize our location as we expand globally, recruit great talent, and increase our operational excellence," Dejanovic said.