San Mateo, Calif. – May 7, 2010 – As disclosed on Monday, April 3, 2010, the Board of Directors of Actuate Corporation (NASDAQ: ACTU), The people behind BIRT®, has approved a share repurchase program of up to an aggregate of $5,000,000 during Q2 2010. Actuate intends to fund its repurchase program with existing cash and cash equivalents.
The timing and amount of any repurchases will be determined by Actuate’s management based on its evaluation of market conditions, regulatory considerations and other factors. The repurchase will be made from time to time on the open market at prevailing market prices, in negotiated transactions off the market, or pursuant to a 10b5-1 plan adopted by the company which permits the company to repurchase its shares during periods in which the company may be in possession of material non-public information. Actuate Corporation is not obligated to repurchase shares, and purchases will be subject to availability, regulatory constraints and general economic conditions. This program may be suspended or discontinued at any time, and there can be no assurance that any such purchases will be made.
Actuate provides software to more than 3.5 million BIRT developers and OEMs who build scalable, secure solutions that save time and improve brand experience by delivering personalized analytics and insights to over 200 million of their customers, partners and employees. Actuate founded and supports BIRT – the open source IDE – and develops BIRT iHub™ – the world-class deployment platform – to significantly improve productivity of developers working on customer facing applications. Actuate's BIRT Analytics™delivers self-service predictive analytics to enhance customer engagement using Big Data. The Actuate Customer Communication Suite™ empowers organizations to easily transform, process, personalize, archive and deliver high volume content and individualized correspondence. Actuate is headquartered in Silicon Valley with more than 5,000 enterprise customers in financial services, technology and government. Visit actuate.com and developer.actuate.com.
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