SPX

(SPW)

traded higher late Monday after it agreed to sell its publicly traded

Inrange Technologies

(INRG)

TST Recommends

unit to

Computer Network Technology

(CMNT)

for $190 million.

Computer Network will buy SPX's 90% stake in the company, as well as the publicly held shares, for $2.31 each -- just 9 cents over its Friday close. The combined company will have annual revenue of $435 million, which is about double CNT's current revenue.

SPX was recently up $1.17, or 4%, to $32, while CNT's shares were getting hammered, down 22% to $5.52.