San Diego-based Active Network Inc. acquired StarCite Inc., a Philadelphia provider of Web-based services to help businesses manage meetings, in a cash-and-stock transaction valued at $57.7 million.
The acquisition, which closed Dec. 30, was announced Jan. 5.
Wayne-based ICG Group Inc., which has held a significant stake in StarCite for many years, said that it would record an initial gain of about $14 million from the sale to Active Network. Shares of ICG were up 14 cents to $8.51 in trading Thursday morning.
Shares of Active Network, which provides cloud-computing applications for business, were down 5 cents to $13.14.