NEW YORK (TheStreet) -- Shares of inContact (SAAS) are soaring 54.05% to $13.88 on heavy trading volume on Wednesday morning after software company Nice Systems (NICE) said it would acquire the company for about $940 million.
Ra'anana, Israel-based Nice will pay $14 per share in cash. It plans to finance the deal with cash on hand and with debt of up to $475 million.
The deal is expected to close before the end of 2016 and is subject to approval from regulators and inContact shareholders.
Nice expects the deal to be accretive to non-GAAP earnings per share in 2017.
inContact is a Salt Lake City-based provider of cloud contact center software and contact center optimization tools.
About 34.33 million of inContact's shares were traded so far today compared to its average volume of 526,060 shares per day.
Shares of Nice are gaining 3.67% to $66.15 on Wednesday morning.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SAAS