Updated from 11:39 a.m. EDT
Technology stocks dipped Thursday, despite several acquisitions in the software industry spurring the biggest movers to gains. Acxiom(ACXM Quote) vaulted 18.1% after the software maker agreed to be acquired by two private equity firms for $3 billion. The deal, which includes the assumption of about $756 million in debt, calls for Silver Lake and ValueAct Capital to pay Acxiom shareholders $27.10 a share in cash, representing a premium of 14% over Wednesday's closing price of $23.67. The acquisition is expected to close within the next three to four months. Shares closed up $4.28 to $27.95. Elsewhere, 24/7 Real Media(TFSM Quote) rose 3.5% after the software firm agreed to be acquired by WPP Group for about $649 million, or $11.75 a share in cash. The price represents a premium of 4% over Wednesday's closing price of $11.26. "This deal provides a great value to all 24/7 Real Media shareholders," 24/7 Real Media said. "Additionally, the transaction further validates the importance of emerging digital media to the global advertising market and 24/7 Real Media's role in strengthening the role of digital media among WPP companies." The deal is expected to close during the third quarter. Shares closed up 39 cents to $11.65. Meanwhile, Gerber Scientific (GRB Quote) jumped 31% after the supplier of software and systems for sign-making and graphics boosted its fourth-quarter guidance. The company now sees earnings of 22 cents to 26 cents a share on revenue of $153 million to $155 million. Previously, the company forecast earnings of 14 cents to 20 cents a share on revenue $145 million to $150 million. Analysts polled by Thomson Financial project earnings of 17 cents a share on revenue of $148.9 million. Shares were up $3.09 to $13.06.- Loading Comments...
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