Cambridge, MA-based Pegasystems, a maker of business process management software, announced it will acquire Chordiant Software for about $161.5 million. The company will pay $5 a share for all outstanding shares of Cupertino, CA-based Chordiant, which also has offices in Bedford, NH, and specializes in customer experience management software. The Chordiant (NASDAQ: [[ticker:CHRD]]) and Pegasystems (NASDAQ: [[ticker:PEGA]]) boards unanimously approved the acquisition agreement, which is expected to close in the second calendar quarter of 2010. The Chordiant board rejected an unsolicited $3.46-per-share bid from CDC Software in January.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
View all posts by Erin Kutz
