Pegasystems gets go-ahead to acquire Chordiant
Pegasystems has received the go-ahead from federal regulators to acquire Chordiant Software Inc., the business software provider said Thursday.
The Federal Trade Commission granted early termination of a mandatory waiting period for the $161.5 million deal.
Cambridge, Mass.-based Pegasystems, through its subsidiary Maple Leaf Acquisition Corp., initiated a cash offer for the outstanding shares of Chordiant stock on March 24 for $5 per share.
The offer expires on April 20.
Shares of many tech companies fell Thursday after a pessimistic report from Research in Motion, maker of the Blackberry smartphone.
Shares of Pegasystems Inc. fell 3 cents, or 0.08 percent, to $36.97 in afternoon trading. Chordiant fell a penny cents, or 0.15 percent, to $5.08.