Dave, are you accounting for the value of ActSoft in the equation? If the company was gaining nothing, your computation would be correct. But I don't think your considering the increased value to the company by acquiring ActSoft. IMO ActSoft is an asset and its addition adds to the bottom line of HISC.
I'd reply, but OC has already covered the point. I still don't see why this is so distrubing for future HISC prospects. Even if you don't feel it's the news you want it, I doubt you can justify the utter foreboding worry you seem to be experiencing for the future of HISC... anyways, to each their own.