Skip to main content

Shares of

Onyx Software


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.

Shares of

International Rectifier


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.


(ELTK) - Get Eltek Ltd. Report

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.

Shares of

Scroll to Continue

TheStreet Recommends



rose 7% after the company licensed its advanced television technology to

Time Warner


. 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


(INTC) - Get Intel Corporation Report

, down 24 cents to $17.74;


(MSFT) - Get Microsoft Corporation Report

, down 23 cents to $22.27;



, down 2 cents to $2.89;

Cisco Systems

(CSCO) - Get Cisco Systems Inc. Report

, up 29 cents to $20.17;

Sirius Satellite Radio

(SIRI) - Get Sirius XM Holdings Inc. Report

, down 5 cents to $4.21;

Lucent Technologies

(LU) - Get Lufax Holding Ltd American Depositary Shares two of which representing one Report

, down 5 cents to $2.48;

Sun Microsystems

(SUNW) - Get Sunworks Inc. Report

, down 5 cents to $4.36;


(ORCL) - Get Oracle Corporation Report

, down 15 cents to $13.71;

Applied Materials

(AMAT) - Get Applied Materials Inc. Report

, down 17 cents to $16.44; and

Apple Computer

(AAPL) - Get Apple Inc. Report

, down 58 cents to $59.42.