Pervasive Software (PVSW) says it has hired Shea & Co. to weigh an $8.50/share bid from privately-owned Actian, first announced on Aug. 13, and has also asked Shea to "solicit potential bids from interested parties." Pervasive closed today at $8.44. (PR)
Software and service firm Actian offers $8.50 a share for Pervasive Software (PVSW), marking a 29.8% premium over Friday's closing price. The firm says its open market bid comes after Pervasive's management spurred merger discussions. PVSW +19.9% premarket.
Pervasive Software (PVSW) says Q4 profits will beat estimates. It now expects revenue to be ~13.7M, better than previous guidance of $11.2M to $12.2M. The company says core integration and database products contributed solid YoY growth. Shares +7.4% AH.