Actuate Signs Agreement to be Acquired by OpenText

SAN MATEO, Calif.--(BUSINESS WIRE)--Actuate Corporation (NASDAQ:BIRT), The BIRT Company™ and the leader in personalized analytics and insights, today announced that it has entered into an agreement to be acquired by OpenText. Under the terms of the merger agreement, an affiliate of OpenText will commence a tender offer to the Actuate stockholders to purchase any and all shares of common stock they hold for $6.60 in cash per share. The purchase price represents an approximately 89% premium to the closing price of Actuate common stock on December 4, 2014, and an equity value of approximately $330 million.