Fivespan's Activism Takes Aim at Appian to Boost Share Price

Fivespan Partners, a San Francisco-based investment firm, has acquired a 7.91% stake in Appian Corp. to advocate for lifting the share price and building value. The firm's strategy focuses on amicable activism and collaborating with management to improve operations, strategy, and governance. Fivespan aims to hold investments for at least three to five years and average $100 million to $300 million in each investment. Appian provides business process management solutions to large enterprises with high switching costs, resulting in extremely high customer retention rates.