Pervasive Software (PVSW) Selects Advisor in Unsolicited $8.50/Share Bid

August 27, 2012 9:20 AM EDT
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Pervasive Software Inc. (Nasdaq: PVSW) has retained Shea & Company, LLC to assist and advise the Board of Directors in its evaluation of an unsolicited, non-binding proposal the Company received from Actian Corporation on August 13, 2012, for $8.50 per share, as well as the Company’s other strategic alternatives, including remaining independent and executing its existing strategic plans. Founded in 2005, and with offices in Boston and San Francisco, Shea & Company is an independent investment banking firm that provides objective advice to emerging and established leaders in software, SaaS and technology-enabled services.

Pervasive remains committed to delivering innovative data management, integration and analytics technology for its customers and partners worldwide. There can be no assurance that the Board’s consideration of the Actian proposal or the Company’s other strategic alternatives will result in a transaction with Actian or any other party or any specific change in the Company’s current strategic plans. Subject to applicable laws, currently the company does not intend to provide further updates regarding the Board’s consideration of these matters.

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