The tech sector was relatively flat Monday, despite a couple of big buyouts. SAP ( SAP), the German database firm, said on Sunday it would pay about $6.8 billion
to buy French business software provider Business Objects ( BOBJ). The deal is expected to close in the first quarter. SAP expects the deal will boost its earnings per share in 2009 and beyond, but could hurt its 2008 EPS by "mid-single digits euro cents." Business Objects shares gained $7.13, or 14.2%, to $57.40, while SAP was sinking $3.21, or 5.4%, to $56.02. Shares of Business Objects rival Cognos ( COGN) also was boosted by the deal. Shares were gaining $4.29 , or 9.7%, to $48.74. NovAtel ( NGPS) was jumping 16.8%, after the Canadian global positioning system maker was acquired by Swedish conglomerate Hexagon for about $390 million, net of NovAtel's cash on hand. Hexagon will pay $50 a share, a 31% premium to NovAtel's 30-day volume-weighted average. The deal is expected to close in the fourth quarter. NovAtel shares were adding $7.12 to $49.55. Garmin ( GRMN) jumped 2.2%, after Am Tech/JSA Research upgraded the GPS device maker to neutral from sell. Shares were gaining $2.24 to $105.28. Research In Motion ( RIMM) was edging up 1.8%, after Morgan Keegan upped its 2008 earnings estimate for the BlackBerry maker to $2.15 a share, from $2.01 a share, according to Business Week. The firm also raised its 2009 target to $2.98 a share, from $2.60 a share. Shares gained $2.038 to $115.40. Despite the deal activity and bullish forecasts, the Nasdaq 100 was relatively flat. The index, which includes components Garmin and Research In Motion, was losing 5.11 points to 2144.56. Vonage ( VG) soared 71.3%, after the company said it had settled its patent lawsuit with Sprint Nextel ( S). Sprint will now license to Vonage a portfolio of more than 100 patents that will allow it to continue to operate its voiceover Internet protocol phone service. Shares were adding 82 cents to $1.97. Rudolph Technologies ( RTEC) was falling 7.8% after Friedman Billings downgraded the semiconductor equipment maker to market perform from market outperform. Shares were losing $1.17 to $13.78.