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The BIRT Company Announces New $40M, 12 Month Share Repurchase Program

Actuate founded and co-leads the BIRT open source project, which is used by more than 2.5 million developers around the globe

“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,” said Peter Cittadini, President and CEO of Actuate Corporation, as he announced details of a twelve month $40.0 million share repurchase program that Actuate first announced on August 1, 2013.

Actuate Corporation (NASDAQ: BIRT) – which also refers to itself as The BIRT Company™ – claims to deliver more insights to more people than all BI companies combined, today provided additional.

In a statement, the company said:

"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 founded and co-leads the BIRT open source project, which is used by more than 2.5 million developers around the globe and serves as the foundation of Actuate’s commercial offerings. Applications built with BIRT and BIRT iHub, says Actuate, ensure that organizations are ready for the exponential growth of Big Data and the proliferation of touch devices.

Headquartered in Silicon Valley, Actuate has over 5,000 customers globally in a diverse range of business areas including financial services, technology and the government. The company is listed on NASDAQ under the symbol BIRT.

Further info can be found at www.actuate.com oryou can  engage with the BIRT community at www.birt-exchange.com.

More Stories By Jeremy Geelan

Jeremy Geelan is Chairman & CEO of the 21st Century Internet Group, Inc. and an Executive Academy Member of the International Academy of Digital Arts & Sciences. Formerly he was President & COO at Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences across six continents. You can follow him on twitter: @jg21.

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