London, UK - August 6th , 2012 – Actuate Corporation (NASDAQ: BIRT), The BIRT Company™ - delivering more insights to more people than all BI companies combined, has announced that its Board of Directors has authorised a $30 million share repurchase programme.
“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 programme 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 authorisation 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 – The BIRT Company™
Actuate founded and co-leads the BIRT open source project, which is used by over 1.5 million developers around the globe and serves as the foundation of the ActuateOne® platform. Applications built on ActuateOne deliver more business and consumer insights to more people than all BI companies combined - ensuring organisations are ready for the exponential growth of Big Data and the proliferation of touch devices.
The ActuateOne platform empowers developers to rapidly develop custom, BIRT-based business analytics and customer communications applications. ActuateOne applications built with one BIRT design, can access and integrate any data, including unstructured sources. They provide one user experience regardless of skill level and are supported by one platform for any cloud, hybrid, on-premise, web or touch device deployment.
Headquartered in Silicon Valley, Actuate has over 5,000 customers globally in a diverse range of business areas including financial services, technology and the public sector. Actuate is listed on NASDAQ under the symbol BIRT. For more information, visit www.actuate.com or engage with the BIRT community at www.birt-exchange.com.
Carina Birt, Sarum PR
PR for Actuate UK
+44 1722 411150
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