Actuate Completes Acquisition of Tidestone Technologies; Actuate Adds Java-Based Spreadsheet Reporting Technology to Information Delivery Solution Portfolio.Business Editors/High-Tech Writers SOUTH SAN FRANCISCO South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. , Calif.--(BUSINESS WIRE)--May 31, 2001 Actuate(R) Corporation (Nasdaq:ACTU ACTU Australian Council of Trade Unions ACTU AIDS Clinical Trials Unit (Washington University Medical Center, St. Louis, Missouri) ACTU Association of Catholic Trade Unionists ACTU Australian Capital Territory Union ), the Information Delivery market leader, today announced it has completed its acquisition of privately held Java reporting software The following is a list of notable reporting software. Commercial software
The acquisition, which closed on May 31, 2001, was completed following approval by Tidestone's shareholders. Under the terms of the agreement, Actuate issued approximately 870,000 shares in exchange for all outstanding shares of Tidestone. "This acquisition adds key customer-requested functionality to Actuate's Information Delivery solutions, while increasing new business opportunities within the financial services market and our OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and channel," said Pete Cittadini, Actuate CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Actuate can now leverage the knowledge of more than 100 million Microsoft Excel users worldwide by offering customers advanced server-based spreadsheet capabilities for developing and accessing Web-based reports. "Through the acquisition, Actuate customers will benefit from the ability to manage spreadsheet reports and analytics within the Actuate server. They will also be able to embed full-function spreadsheets into Actuate reports and save Actuate reports as Excel spreadsheets," noted Cittadini. Tidestone's spreadsheet reporting technology, written entirely in Java, enables Actuate to extend its commitment to customers building e-Business applications consistent with the J2EE (Java 2 Platform, Enterprise Edition) A platform from Sun for building distributed enterprise applications. J2EE services are performed in the middle tier between the user's machine and the enterprise's databases and legacy information systems. protocol by providing an Excel-compatible spreadsheet engine that embeds powerful reporting features into Java-based applications. Development and sales efforts for Tidestone's reporting software will remain centralized in Overland Park, Kansas Overland Park is the second most populous city in the U.S. state of Kansas. It is located in Johnson County, a satellite city of Kansas City, and is near Olathe, Lenexa, Prairie Village and Leawood. In 2006, the estimated population is 167,500. . As previously stated, Actuate has provided the following revised financial guidance for fiscal 2001 and 2002. Currently, Actuate believes there will be no material change to the revenue projections previously announced for fiscal 2001. Actuate also expects there will be a dilutive effect Dilutive effect Result of a transaction that decreases earnings per common share (EPS). on earnings per share of no more than $.01 for both Q3 and Q4 of fiscal 2001 and that the acquisition will have an accretive impact on fiscal 2002 earnings of approximately $.03 per share. About Actuate Corporation Actuate Corporation is the leading provider of Information Delivery solutions for Global 2000 companies, Internet start-ups and packaged application software vendors. Actuate builds solutions for customer applications including e-CRM, e-Procurement and Net marketplaces. Actuate's Information Delivery solutions make it easy to extract operational data from disparate systems and publish secure, interactive and perfectly formatted content that is seamlessly integrated with the rest of a company's Web site. By instantly delivering personalized content to 100,000s of end users -- without downloads -- companies using Actuate can increase revenue, reduce costs and improve customer service. Actuate has over 1,100 direct customers and over 150 OEM partners including American Express, AT&T, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , BMC Software, Chase Manhattan Corporation The Chase Manhattan Corporation was a bank holding company formed as parent of the Chase Manhattan Bank. During its time as the parent company, it was led in succession by David Rockefeller, Willard C. Butcher, and Thomas G. Labrecque. , Clarify, Enron, Lucent Technologies, WorldCom, PeopleSoft and Siebel. Founded in 1993, Actuate has headquarters in South San Francisco, Calif., and has offices worldwide. For more information on Actuate, visit the company's Web site at www.actuate.com. The statements contained in this release that are not purely historical are forward looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding Actuate's expectations, beliefs, hopes, intentions or strategies regarding the future. All forward-looking statements in this release are based upon information available to Actuate as of the date hereof, and Actuate assumes no obligation to update any such forward-looking statements. Actual results could differ materially from Actuate's current expectations. Factors that could cause or contribute to such differences include, but are not limited to, the Risk Factors discussed in Actuate's Securities and Exchange Commission filings, specifically Actuate's 2000 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed on March 12, 2001 and Actuate's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. filed on May 1, 2001. Note to Editors: Actuate is a registered trademark of Actuate Corporation. e.Reporting is a trademark of Actuate Corporation. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion