were among technology's winners Tuesday, jumping 13% after the software company agreed to be acquired by privately held M2M Holdings for $92 million in cash.
The deal value prices Onyx at $4.80 a share, representing a premium of 15% over Monday's closing price of $4.17. The deal is expected to close during the third quarter. "We believe that this transaction is the right decision for Onyx shareholders, customers, partners and employees," Onyx said. "Upon closing, this transaction will provide liquidity to shareholders and a premium to our recent trading prices." Once the deal closes, Onyx will operate as a separate business unit of Made2Manage Systems, M2M Holdings' primary asset. Shares of Onyx Software were trading up 54 cents to $4.71.
slid 10% after the company said its operating company subsidiary plans to sell $240 million in senior subordinated debentures due 2016. The company also plans to grant underwriters an option to buy an additional $35 million of debentures to cover over-allotments. Spansion said that its subsidiary plans to use proceeds from the offering to repay debt, for working capital and for general corporate purposes. Shares of the flash-memory company were recently trading down $1.62 to $15.14.
fell 5% after the chipmaker said it would sell some $650 million in convertible subordinated notes due 2013. The company will also grant initial purchasers an option to buy an additional $100 million in notes within 13 days of the initial issuance of the notes. International Rectifier plans to use part of the proceeds from the offering to fund convertible-note hedge transactions, which are aimed at reducing potential dilution from the conversion of notes. The company also plans to use proceeds to fund its general corporate needs. Shares were trading down $2.01 to $41.45.
rose 6% after the maker of printed circuit boards posted big year-over-year gains in first-quarter earnings and revenue. The company earned $613,000, or 9 cents a share, on revenue of $9.3 million. During the year-earlier period, the company earned $179,000, or 3 cents a share, on revenue of $7.3 million. "Q1 was another strong quarter for Eltek, in which we managed to accelerate our continued organic revenue growth and reached new levels of profitability," the company said. Shares were trading up 27 cents to $4.47.
rose 7% after the company licensed its advanced television technology to
. Under the multiyear agreement, Time Warner will deploy its digital navigator on the OpenTV platform for use in Time Warner's
set-top boxes. The launch date is expected in late 2006. Financial terms of the deal were not disclosed. Shares were trading up 23 cents to $3.69.
Other technology movers included
, down 24 cents to $17.74;
, down 23 cents to $22.27;
, down 2 cents to $2.89;
, up 29 cents to $20.17;
Sirius Satellite Radio
, down 5 cents to $4.21;
, down 5 cents to $2.48;
, down 5 cents to $4.36;
, down 15 cents to $13.71;
, down 17 cents to $16.44; and
, down 58 cents to $59.42.