logo
  Join        Login             Stock Quote

Versant (VSNT) To Be Bought By Actian For 10.2 Pct Premium

 November 21, 2012 03:17 PM


(By Balaseshan) Versant Corp. (NASDAQ: VSNT), a provider of data management software, said it has agreed to be bought by Actian Corp. for $13.00 per share in cash, a 10.2% premium from previous close.

Versant's Board of Directors unanimously approved the Actian Acquisition Agreement and authorized termination of Versant's previously announced merger agreement with Unicom Systems Inc. in accordance with the terms of that agreement. The aggregate purchase price of the recent transaction is about $37 million.

The purchase price represents a premium of about 13% over the $11.50 per share price contemplated by the prior merger agreement with Unicom, and a 32% premium over Versant's closing price of $9.85 per share on the last trading day before announcement of the prior agreement with Unicom.

[Related -Versant's Persistency]

Prior to entering into the Actian Acquisition Agreement, Versant terminated its previous merger agreement with Unicom and, in accordance with that agreement, Versant will pay a termination fee of $750,000.

The Actian Acquisition Agreement provides for the merger of Versant with a subsidiary of Actian, and the transaction is currently expected to close in Versant's first fiscal quarter ending January 31, 2013. Following completion of the transaction, Versant will be wholly owned by Actian and its stock will no longer trade on the NASDAQ.

"Versant and Actian have complementary businesses. We believe we can leverage our combined strength in managing complex information in environments that demand high performance to lead in the business intelligence and analytics market. This merger will also deliver premium value and liquidity to Versant's shareholders," said Bernhard Woebker, Versant's President and Chief Executive Officer.

[Related -3 Interesting "In-Between" Magic Formula Stocks]

Actian enables organizations to transform Big Data into business value with data management solutions to transact, analyze, and take automated action across their business operations. Actian is headquartered in California with offices in New York, London, Paris, Frankfurt, Amsterdam and Melbourne.

VSNT is trading up 8.64% at $12.82 on Wednesday. The stock has been trading between $8.50 and $12.95 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageRussell 2000 Showing Relative Weakness at the New Highs

A quick “Quad Index” Grid shows us that the small-cap Russell 2000 is showing relative strength to the read on...

article imageThe Poster Boy For Liberal Economics Discovers The Tax Factor

Paul Krugman seems to be having a supply-side-economics moment… sort of. Raising taxes, the NY Times read on...

article imageMacroprudential Policy And Distribution Of Risk

There is very little doubt that housing prices and leverage played a strong role in the global financial read on...

article imageIs the World Turning Japanese?

Many really think so, but reality suggests read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Magic Formula Stocks by Industry
More Articles on: Computer and Technology



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.