Actian Corp announced that it has entered into a definitive deal to acquire Pervasive Software Inc. (PVSW: Quote) for $161.9 million. The transaction is expected to close in the second calendar quarter of 2013.
Under deal terms, Pervasive's stockholders will receive $9.20 in cash for each share and accelerates Actian's ability to deliver its vision of providing organizations with the capability to take action in real time as their business environment changes.
TC Lending, LLC, a subsidiary of TPG Specialty Lending, Inc., has committed to provide debt financing for the transaction. Shea & Company, LLC serves as financial advisor to the Board of Directors of Pervasive Software
Pervasive Software believed that the two companies' complementary product portfolios, track record of technological innovation and well-established customer bases provide a platform for compelling synergies.
"Together, the combined group has the technology and global presence to deliver the ability to extract, analyze and take action on big data in real time", said Steve Shine, CEO & president of Actian Corp.
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by RTT Staff Writer
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