Shares of Netsmart Technologies ( NTST) were among technology's winners Monday, jumping 9% after the software company agreed to be acquired by two private equity firms for about $115 million. Insight Venture Partners and Bessemer Venture Partners will pay $16.50 a share in cash for Netsmart, representing a 12% premium over Friday's closing price of $14.70. The deal is expected to close in early 2007. "We believe this transaction will enable us to better scale for anticipated growth, both organically and by acquisition, and will provide us with easier access to capital for new product development and technology innovations to better serve our customers," Netsmart said. Shares were trading up $1.39 to $16.09. PacificNet ( PACT) tumbled 19% after the IT-services company said it swung to a third-quarter loss and slashed its full-year guidance. For the third quarter, the company recorded a loss of $1.1 million, or 10 cents a share, compared with a year-earlier profit of $611,000, or 5 cents a share. Revenue rose to $12.9 million from $11 million. Looking ahead, PacificNet now sees full-year earnings of $1 million to $1.2 million, with revenue of $60 million to $65 million. Previously, the company predicted earnings of $3.9 million to $4.3 million and revenue of $74 million to $77 million. Shares were trading down $1.20 to $5.
Shares of On Track Innovations ( OTIV) slid 5% after the maker of smart cards posted disappointing third-quarter results. The company reported a loss of $2.4 million, or 16 cents a share, on revenue of $8 million. Excluding items, the company posted a loss of $1.7 million, or 11 cents a share. Analysts polled by Thomson First Call had an average estimate for a loss of 8 cents a share and revenue of $10 million. A year earlier, On Track reported a loss of $2.1 million, or 23 cents a share, on revenue of $12.1 million. Shares were trading at $7, down 37 cents. Akamai Technologies ( AKAM) rose 3% after the company agreed to acquire privately held Nine Systems for about $160 million. Akamai will pay about $7 million in cash and 3.1 million shares in stock to Nine Systems. The deal, projected to close by the end of the year, is expected to be accretive to Akamai's 2007 earnings. Shares were up $1.39 to $50.64. Other technology movers included Microsoft ( MSFT), up 47 cents to $29.87; Intel ( INTC), up 12 cents to $22.22; Lucent Technologies ( LU), up 2 cents to $2.64; Sun Microsystems ( SUNW), up 6 cents to $5.53; Cisco Systems ( CSCO), up 5 cents to $26.98; Level 3 Communications ( LVLT), up 7 cents to $5.26; Marvell Technology ( MRVL), up $1.09 to $20.14; Applied Materials ( AMAT), down 6 cents to $18.06; Sirius Satellite Radio ( SIRI), unchanged at $4.05; and Oracle ( ORCL), up 3 cents to $19.49.