Published March 27, 2013
Shareholders of Pervasive Software Inc., which has an office in Greenville, scheduled a special meeting April 10 to vote on a proposed merger with Actian Corp., a California-based data management company.
An Actian affiliate offered $161.9 million to acquire Pervasive Software, which is based in Austin, Texas, and also has offices in Brussels, London, Paris and Frankfurt, Germany. Pervasive provides cloud-based and on-premises data storage services.
“After a deliberative process and thorough assessment of our strategic alternatives, the Pervasive board of directors has determined that this transaction represents the best value for our shareholders, employees and customers,” Pervasive President and CEO John Farr said in a news release. “We believe the two companies’ complementary product portfolios, track record of technological innovation and well-established customer bases provide a platform for compelling synergies.”
Under the terms of the agreement, Pervasive’s stockholders will receive $9.20 in cash for each share of Pervasive stock they hold. The transaction is expected to close in the second quarter, pending shareholder and other approvals.
Actian is headquartered in California with offices in New York, London, Paris, Amsterdam, Frankfurt, Germany; and Melbourne, Australia.