In an open letter on the non-binding proposal, Actian CEO Steve Shine said he looked forward to “an open dialogue” with Pervasive’s board of directors on a deal that he felt would make the combined vendors a “leading player” in the BI and data integration fields.
"We are surprised that Pervasive has declined our repeated efforts to engage in negotiations," said Shine in the letter, sent late Wednesday to Pervasive President and CEO John Farr and the company’s board.
Pervasive declined further comment and released a two-sentence statement on its site noting the Actian bid price, based on $8.50 per share, and stating its board would evaluate the proposal and gauge the “appropriate course of action that it believes is in the best interests of Pervasive’s stockholders.”
Shine wrote that Actian has worked “over the past several months” with financial and legal advisors to study Pervasive’s offerings and operations. Actian, maker of the analytics database Vectorwise and transactional database Ingres, would seek to leverage Pervasive’s existing database business and software for BI and data integration, to “build critical mass in the market.”
Actian pushed that the cash and debt buyout could be completed by the fourth quarter of this year.
Pervasive was founded in 1994 and is based in Austin, Texas. Recently, the integration, analytics and database management provider has emphasized its growing offerings in the cloud.
Actian has re-branded itself of late with a strategy and portfolio more aligned with big data, cloud processing and decision management.
Justin Kern is senior editor at Information Management and can be reached at justin.kern@sourcemedia.com. Follow him on Twitter at @IMJustinKern.
