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ACTIAN TO BUY PERVASIVE SOFTWARE
Pervasive Software has agreed to be acquired by an affiliate of the Actian Corp., for a deal valued at about $161.9 million. Pervasive, based in Austin, Texas, said it made the decision to accept the $9.20-a-share offer after studying its choices. The deal is expected to close in the second quarter.
Based in Redwood City, Calif., Actian owns the Ingres database, the Vectorwise analytical software, and Actian Apps, which the company describes as consumer-style applications that can trigger action based on changes to data. The Actian press release about the deal described it as creating "a disruptive force in big data." It has not been the friendliest of courtships. Actian came to Pervasive in August with an offer of $8.50 a share with Actian complaining in September that Pervasive repeatedly decline to respond to the initial advance. When Actian then raised the bid to $9 a share, Pervasive demanded a standstill agreement, with Actian agreeing to 30 days.
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