San Mateo, Calif., – August 2, 2013 – Actuate Corporation (NASDAQ: BIRT), The BIRT Company™ – delivering more insights to more people than all BI companies combined, today provided additional details of the twelve month $40.0 million share repurchase program first announced on August 1, 2013.
“Due to the continued solid performance associated with Actuate’s BIRT and BIRT iHub business, as well as management’s confidence in the future of this business, we believe executing on this more substantial share repurchase program reflects our commitment to delivering value to our shareholders,” Peter Cittadini, President and CEO of Actuate.
The timing and amount of any shares repurchased will be determined based on the Company's evaluation of market conditions and other factors and the program may be discontinued or suspended at any time. Repurchases will be made in compliance with all SEC rules and other legal requirements and will be made in part under a Rule 10b5-1 plan, which permits stock repurchases when the Company might otherwise be precluded from doing so.
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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