An investigation on behalf of investors, who currently hold shares of Datawatch Corporation (NASDAQ: DWCH), was announced concerning whether the takeover of Datawatch Corporation by Altair is unfair to NASDAQ: DWCH stockholders.

The investigation by a law firm concerns whether certain officers and directors of Datawatch Corporation breached their fiduciary duties owed to NASDAQ: DWCH investors in connection with the proposed acquisition.

Bedford, MA based Datawatch Corporation designs, develops, markets, and distributes business computer software products to self-service data preparation and visual data discovery markets in the United States and internationally. On November 5, 2018, Altair (Nasdaq: ALTR) and Datawatch Corporation (Nasdaq-CM: DWCH) announced the signing of a merger agreement under which Altair has agreed to acquire Datawatch. Under the terms of the agreement, Altair will pay $13.10 per share in cash, representing a fully diluted equity value of approximately $176 million.

However, given that at least one analyst has set the high target price for NASDAS: DWCH shares at $20.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: DWCH stockholders. More specifically, the investigation concerns whether the Datawatch Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Datawatch Corporation reported that its Total Revenue rose from $30.46 million for the 12 months period that ended on September 30, 2016 to $36.26 million for 12 months period that ended on September 30, 2017 and that its Net Loss declined from $14.63 million to $3.99 million for those respective time periods.

Shares of Datawatch Corporation (NASDAQ: DWCH) closed on November 9, 2018 at $13.17 per share.