Pervasive Software Has Been Acquired by Actian

Pervasive Profile

  • Pervasive Software (NASDAQ: PVSW) was a publicly-held corporation based in Austin with 260 employees worldwide
  • The company was a leading provider of software which cleansed, transported, managed, integrated and analyzed data
  • Pervasive offered a full range of products spanning on-premises and cloud environments, managed B2B integration services, data management and the growing world of big data and analytics
  • Pervasive products delivered value to tens of thousands of customers worldwide, often embedded within partner software

Actian Profile

  • Actian Corporation, headquartered in Redwood City, CA, provides solutions which enable organizations to “transform big data into business value”
  • The company is a leading provider of software which helps companies analyze big data in industries ranging from retail, ecommerce, enterprise, healthcare, manufacturing, finance and social media; Actian also offers various independent database solutions, and has over 10,000 customers worldwide
  • Actian is privately-held and a portfolio company of Garnett & Helfrich Capital

Transaction Notes

  • Pervasive stockholders received $9.20 in cash per share, equating to an announced deal value of approximately $162 million
  • Following the receipt of an unsolicited offer from Actian Corporation in the form of a publicly-disclosed “bear hug” letter, Pervasive’s Board of Directors retained Shea & Company to consider Actian’s proposal as well as the Company’s other strategic alternatives, including remaining independent and running a full process to sell the business
  • After considering the advice of Shea & Company and legal counsel, Pervasive’s Board instructed Shea & Company to solicit bids from interested parties, including Actian
  • During the ensuing process, Actian increased its offer three times; the final purchase price of $9.20 per share represented a 40% premium over Pervasive’s last unaffected closing price
  • The transaction was announced on January 28, 2013 and closed on April 11, 2013
  • “This is particularly the case in the area of highly parallelized and scale-up, scale-out data integration and database. In my view, the combination of these technologies will provide Actian with a performance capability for BI and Data Analytics which no other company can currently equal.” – Robin Bloor, Chief Analyst & Co-Founder, The Bloor Group
  • Shea & Company served as the exclusive financial advisor to Pervasive’s Board of Directors and delivered a Fairness Opinion for the transaction
$161,900,000
has been acquired by
Shea & Company served as the exclusive financial advisor to Pervasive's Board of Directors