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Unsolicited Proposal Costs
6 Months Ended
Dec. 31, 2012
Unsolicited Proposal Costs

8. Unsolicited Proposal Costs

On September 12, 2012, Pervasive announced that its Board of Directors met to consider the advice of its independent financial advisor, Shea & Company, LLC, with respect to the evaluation of an unsolicited, non-binding proposal the company received from Actian Corporation on August 13, 2012. The Board of Directors instructed Shea & Company to solicit potential bids from interested parties and engage with those parties, including Actian Corporation, regarding their interest in acquiring Pervasive Software. During the three and six months ending December 31, 2012, we incurred legal and financial advisory costs of approximately $433,000 and $579,000, respectively, associated with the unsolicited Actian proposal and related solicitation of potential bids (“unsolicited proposal costs”).