Pervasive Software Inc said it had agreed to be acquired by Actian Corp, after the privately held big data management company raised its earlier offer by about 8 percent to $161.9 million. Actian will offer $9.20 in cash to Pervasive shareholders for each Pervasive share. The offer price represents a premium of 2 percent to Pervasive's closing price of $9.05 on Monday on the Nasdaq.Actian, headquartered in California, had raised its bid for Texas-based Pervasive twice. It initially offered $8.50 per share last August, and increased the price to $9.00 in November.Pervasive's share price has risen about 12 percent since it attracted Actian's interest last August. Pervasive's revenue rose 6 percent in the six months ended December 2012, compared with the same period a year earlier.Actian, backed by private equity firm Garnett & Helfrich Capital, builds apps for big data management through its cloud development platform. It also owns databases that help analyze big data faster for customers such as Oxford University, Cathay Pacific Airways and Lufthansa.
Pervasive Software Inc. delivers software to manage, integrate and analyze data, in the cloud or on-premises, throughout the entire data lifecycle. Shares of PVSW traded higher by 0.11% or $0.01/share to $9.05. In the past year, the shares have traded as low as $5.45 and as high as $9.15. On average, 46635 shares of PVSW exchange hands on a given day and today's volume is recorded at 15356.
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