Xenos Group Inc. completes C$37.7 million sale to Actuate

Date Closed: 02/01/2010

Value: C$37.7 million

On February 1, 2010 Actuate Corporation (Actuate) successfully concluded its all-cash takeover bid for Xenos Group Inc. (Xenos), taking up over 95% of the outstanding shares of Xenos. Actuate subsequently initiated a compulsory acquisition to acquire the remaining common shares of Xenos. The transaction values Xenos at Cdn$37.7 million. The bid was conducted pursuant to an Acquisition Agreement entered into by Actuate and Xenos on December 8, 2009 and was supported by lock-up agreements entered into by Actuate with shareholders owning 48% of the common shares. 

Actuate, a computer software company based in San Mateo, California, founded and continues to co-lead the Eclipse BIRT open source project.  BIRT is the premier development environment for Rich Information Applications that present data via the web on any device.

Xenos, based in Richmond Hill, Ontario, is a provider of high-performance software solutions for supply chain management.

Xenos was represented by Borden Ladner Gervais LLP with a team consisting of Ed Merringer, Paul Mingay, Dolores Di Felice and Krstina S​kocic.