San Mateo, Calif., - August 6, 2012 – Actuate Corporation (NASDAQ: BIRT), The BIRT Company™ - delivering more insights to more people than all BI companies combined, today provided additional details of the $30 million share repurchase program first announced on August 2nd, 2012.
“Our hybrid open source enterprise model continues to generate healthy cash flow, enabling us to invest in our business and return capital to our shareholders,” said Peter Cittadini, President and CEO of Actuate. “This repurchase program still enables us to take advantage of strategic acquisitions to propel our BIRT strategy forward - and we will remain focused and opportunistic on this front.”
The share repurchase authorization does not have an expiration date and the pace and timing of repurchases will depend on factors such as cash generation from operations, the volume of employee stock plan activity, cash requirements for acquisitions, economic and market conditions, stock price and legal and regulatory requirements.
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 Communications 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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