Actuate to Be Acquired by OpenText

Actuate Corporation, The BIRT (Business Intelligence and Reporting Tools) company in personalized analytics and insights, has entered into an agreement to be acquired by OpenText Corp.

Under the terms of the merger agreement, an affiliate of OpenText will commence a tender offer to the Actuate stockholders to purchase any and all shares of common stock they hold for $6.60 in cash per share. The purchase price represents an approximately 89% premium to the closing price of Actuate common stock on December 4, 2014, and an equity value of approximately $330 million.

The addition of Actuate enables OpenText to enhance their products with embedded analytics as well as enter a growing market. Together the two companies will seek to extend the benefits of embedded analytics to more geographies and industries.

Industry research indicates embedded analytics is increasing in its importance. Embedded analytics turns information into intelligence by providing users with relevant, actionable insights delivered within the context of the application. This adds substantial value for companies embedding analytics into applications to help drive better customer engagement and improved decision making.

The board of directors of Actuate has unanimously approved the transaction.

The transaction is expected to close in the first quarter of 2015, subject to Actuate stockholders tendering a majority of Actuate’s outstanding shares pursuant to the tender offer and other customary closing conditions, including regulatory approvals.

“Actuate has been focused on delivering value of information for over 20 years. We believe this agreement will enhance the OpenText product line through embedded analytics and open a new growth market for OpenText,” said Pete Cittadini, president and CEO, Actuate.