Actian Corporation, Monday, announced that it has submitted a proposal to acquire all the outstanding shares of Pervasive Software Inc (PVSW) for a total consideration of approximately $154 million, in cash.
The leader in next generation database management and author of the Vector Analytics Database, Actian Corporation, further stated that the offer price of $8.50 per share represents a premium of 30 percent over the closing price of $6.55 of Pervasive Software as on the previous trading session on August 10, 2012.
"Pervasive represents an excellent strategic fit for Actian," said Steve Shine, Chief Executive Officer of Actian. "We believe this proposal represents a compelling opportunity for Pervasive's stockholders to realize significant, immediate cash premium value for their investment. Bringing together our complementary businesses would enable us to leverage our combined assets to drive growth for our respective customers and employees."
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