June 19, 2008 - Insightful Corporation, a provider of predictive analytics and reporting solutions, announced that it has signed a definitive agreement to be acquired by TIBCO Software Inc. in a transaction valued at approximately $25 million, including the value of certain assumed options.
Under the terms of the agreement, following the closing, Insightful stockholders will receive $1.87 in cash for each outstanding share of common stock they own. This price represents a premium of 29 percent over the average closing price of Insightfuls common stock over the sixty trading day period.
The Board of Directors of Insightful unanimously approved the agreement and resolved to recommend that Insightful stockholders approve the transaction. Completion of the transaction is subject to stockholder approval and other customary closing conditions.
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