Tech Stocks in Motion
Shares of
Internet Capital Group
(ICGE)
were among technology's winners Tuesday, rising 8% after the company said that
LinkShare
, its partner company, would be acquired by Japan's
Rakuten
for $425 million in cash.
ICG expects to receive about $150 million from the sale. About 10% of the proceeds will be escrowed for one year, Internet Capital said. After the deal closes, ICG will record a gain of about $100 million, net of income taxes of about $19 million. The release of any proceeds from escrow during 2006 will result in an additional gain, ICG said. "We are extremely pleased that LinkShare has agreed to be acquired by Rakuten under the proposed terms," ICG said. "Since we acquired a stake in LinkShares in 1998, we have strongly believed in LinkShare's potential to be a market leader, the strength and vision of its management team and the value it delivers to merchants and affiliates." The deal is expected to close within four to six weeks. Shares of Internet Capital were trading up 63 cents to $8.49.
EMC
(EMC)
rose 2% after the company received a five-year indefinite delivery indefinite quantity contract from the U.S. Postal Service. The initial award, worth $30 million, calls for EMC to deliver hardware, software and services that will support USPS's enterprise storage platform requirement. Shares were trading up 22 cents to $13.29.
Shares of
NetManage
(NETM)
rose 5% after the company said it licensed and integrated its NetManage Librados adapters into
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Adobe's
(ADBE) - Get Adobe Inc. Report
LiveCycle Workflow product, which links business processes with back-end systems. Financial terms of the deal were not disclosed. Shares of NetManage were recently trading up 25 cents to $5.30.
Identix
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rose 3% after the company received an exclusive three-year contract from the Texas Department of Public Safety. The contract calls for the company to provide statewide electronic fingerprinting services and related processing for licensing and employment purposes for Texas. The award provides for up to two three-year contract extensions. Shares were trading up 15 cents to $4.96.
Shares of
Zi
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rose 14% after the company said its advanced handwriting recognition solution, Decuma Japanese, was selected for
Motorola's
(MOT)
new 3G smartphone. "Zi is delighted that its Decuma Japanese handwriting recognition solution is a feature of the new FOMA M1000 smartphone," Zi said in a press release. "Until the introduction of the FOMA M1000, text entry in Japan normally required multiple tags on the phone's keypad - this will be a thing of the past thanks to Decuma Japanese." Shares were trading up 32 cents to $2.58.
Other technology movers included
Cisco
(CSCO) - Get Cisco Systems Inc. Report
, up 43 cents to $18.15;
Microsoft
(MSFT) - Get Microsoft Corporation Report
, up 11 cents to $27.13;
Intel
(INTC) - Get Intel Corporation Report
, up 24 cents to $25.52;
Apple Computer
(AAPL) - Get Apple Inc. Report
, up $2.36 to $48.58;
Sirius Satellite Radio
(SIRI) - Get Sirius XM Holdings Inc. Report
, unchanged at $6.87;
Oracle
(ORCL) - Get Oracle Corporation Report
, up 10 cents to $13.49;
Applied Materials
(AMAT) - Get Applied Materials Inc. Report
, up 4 cents to $17.74;
Dell
(DELL) - Get Dell Technologies Inc. Class C Report
, up 38 cents to $35.36;
Sun Microsystems
(SUNW) - Get Sunworks Inc. Report
, up 2 cents to $3.84; and
Lucent Technologies
(LU) - Get Lufax Holding Ltd American Depositary Shares two of which representing one Report
, up 1 cent to $3.06.
