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Pegasystems gets go-ahead to acquire Chordiant

Thu, 04/01/2010 - 10:30am
The Associated Press

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.

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