were among technology's winners Monday, rising 11% after the telecom company agreed to be acquired by
for about $465 million.
West, a provider of outsourced communications systems, will pay $26 a share in cash for Intrado, representing a 13% premium over Friday's closing price of $23. The deal is expected to be slightly dilutive to West's 2006 earnings but accretive to 2007 earnings. Shares of Intrado were trading up $2.60 to $25.60, while shares of West recently were trading down 17 cents to $40.13.
tumbled 11% after the distributor of wireless handsets said it plans to sell 1.1 million shares to institutional investors in a private placement. The shares are being sold for $13.10 apiece, resulting in gross proceeds of $14.4 million. The price represents an 18% discount to Friday's closing price of $15.98. Investors also received warrants to buy an additional 330,000 shares for $18.38 a share. The company said it will use the proceeds for expansion, particularly in Central and South America. InfoSonics also will use proceeds for working capital and debt reduction purposes. Shares were trading down $1.80 to $14.18.
vaulted 47% after the maker of global positioning system products agreed to be acquired by
for $37 a share in cash, a 48% premium over Friday's closing price of $25. Lowrance said the deal represents an enterprise value of about $215 million. Simrad Yachting, which is owned by Nordic-based private equity fund Altor 2003 Fund and Norwegian maritime electronics and defense company Kongsberg Gruppen, is a provider of marine electronics to high-end leisure boats and smaller commercial vessels.
"Simrad Yachting and Lowrance are highly complementary in terms of their current product offerings, segment focus and geographic footprints," Lowrance said. "Because there is very little overlap in these areas, the merger is not expected to face significant regulatory hurdles or result in significant staff reductions." Shares of Lowrance were trading up $11.64 to $36.64.
soared 50% after the company posted big gains in third-quarter earnings and sales. The company, which makes electronic control and measurement devices, earned $800,000, or 14 cents a share, on sales of $11.4 million for the quarter ended Dec. 31. During the year-earlier period, the company earned $200,000, or 3 cents a share, on sales of $9.7 million.
Looking ahead, Technology Research expects sequential sales and earnings improvement. "In our fiscal fourth quarter we expect to continue the momentum gained during the third quarter with further improvement in both revenue and earnings per share," the company said. Shares were trading up $2.33 to $6.99.
rose 7% after the high-speed wireless-transmission systems company signed a four-year license agreement with
. The deal calls for Stratex to license certain Eclipse software and products to Alcatel. Financial terms weren't disclosed. Shares of Stratex were trading up 26 cents to $4.07.
Other technology movers included
, up 14 cents to $27.93;
, up 14 cents to $21.81;
, down 8 cents to $4.21;
, up 13 cents to $18.91;
, down 7 cents to $2.68;
, up 12 cents to $12.53;
, up $1.87 to $73.90;
, down 2 cents to $3.14;
, up 97 cents to $18.45;
Sirius Satellite Radio
, up 4 cents to $5.91; and
, down $2.09 to $67.78.