Richard,

All these years and you still have your head buried in the sand. You saw the Hollywood movie "Barbarians at the Gate" and ever since then you've fanatsized that every public company is filled with intriguing "buyout" or "LBO" drama.
Real life isn't like the movies, Richard. I see absolutely no possible reason for any entity to want to acquire Actuate for any sort of premium or multiple above about one years annual sales. That would put the "buyout price" at less than half of todays stock price. What's Actuate got that would attract any investor interest ? No cutting edge technology. No exciting new game changing product. No impressive operational results. What Actuate's got is management playing games with press releases and investor conferences about "BIRT" in 2007 and 2008. When that didn't work management started playing games with the share count by using company cash to buyback shares so that this years EPS would not look so bad. Actuate management continues to milk its old legacy customers for maintenance revenues and that's about it. To me this is the "value" of the company, existing customer revenues. Hardly anything to get excited about and certainly nothing there that would attract a buyout offer from an outside entity or existing management.
Remember,years ago Cittadini was a sales rep for Oracle. His gig here as CEO of ACTU pays him a better salary than he used to get as a sales rep so I think he does what he can
to keep his job.