Posts Tagged ‘Technology Stocks’

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MediaMind Technologies Inc. (MDMD) acquired by DG, stock soars

Thursday, June 16th, 2011

MediaMind Technologies Inc. (Nasdaq: MDMD) shares gained 38.2% to $22.03 a piece Thursday, after DG Fastchannel Inc. (Nasdaq: DGIT) said it would pay $418 million, or $22 a share, to buy the digital-advertising company. Volume for the stock topped 2.3 million shares, routing a daily average of just over 70,000.

A news release June 16 announced the definitive agreement, under which DG will acquire MediaMind in an all-cash transaction. The acquisition creates one of the premier global online and television advertising technology companies.

Upon closing, Gal Trifon, President and CEO of MediaMind, will serve as DG’s Chief Digital Officer, leading DG’s online advertising business. Additionally, Ofer Zadikario, MediaMind’s Chief Solutions Officer, will join DG in the same position.

“This is a game-changing transaction that provides DG with an unmatched global footprint, broad customer reach and an innovative platform in television and the fast-growing online advertising market,” said Scott Ginsburg, Chairman and CEO of DG in the same news release. “

In the release, Trifon was quoted thus, “We believe this transaction offers significant value for our shareholders and is the natural, next step for MediaMind. DG will provide us with the added scale and resources to continue to grow our platform and enhance the services we provide our customers. Working together with DG, we will provide a single solution for advertising creation, distribution, and monitoring for cross-platform campaigns.

“We are excited to partner with DG,” Trifon concluded, “to continue to increase our base of large advertisers and expand our global operations, and we are confident that our employees will benefit from the greater opportunities at the combined company.”

Headquartered in New York, MediaMind has 37 sales and representation offices covering 64 countries. In 2010, MediaMind delivered campaigns for 9,000 brand owners using approximately 3,800 media and creative agencies across 8,200 global web publishers in 64 countries.

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DST Systems Inc. (DST) races ahead on word of several suitors

Wednesday, June 15th, 2011

DST Systems Inc. (NYSE: DST) shares gained 14.2% to $55.19 after Reuters reported that the accounting-software company had drawn interest from private equity firms in recent months. Volume for the stock was 1.5 million shares, compared to an all-day average of 288,000.

The exclusive story that broke this morning quoted sources close to the situation as saying the Kansas City-based DST had received several buyout overtures from private equity firms in recent months, including one led by activist investor Russell Glass.

Glass, founder and head of New York investment firm RDG Capital, told Reuters he had teamed up with a private equity firm and approached DST management within the last 30 days to talk about a buyout of the diversified data processing company in the mid-$60s per share range.

DST also held discussions in March and April with another private equity firm that was also eyeing a mid-$60s price range, a source close to the situation said.

The news agency also quotes Glass as saying he was rebuffed by DST management on grounds that the company did not want to sell while it is grossly undervalued.

The other private equity firm had also been rejected, while the mid-$60s range appears to be the starting point, said the source, adding, “You have to be prepared to bump or compete with other buyers.”

The source requested anonymity because the talks are not public. A DST spokeswoman declined to comment.

DST Systems, Inc. provides sophisticated information processing and computer software products and services to support the mutual fund, investment management, insurance and healthcare industries.

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EMS Technologies Inc. (ELMG) has honey of a day on Honeywell deal

Monday, June 13th, 2011

EMS Technologies Inc. (Nasdaq: ELMG) shares gained 32.3% to $32.82 Monday, after Honeywell International Inc. (NYSE: HON) said it would acquire the maker of wireless-communications products for $33 a share. Volume for EMS stock topped the 4.7-million mark, far greater than its daily average of just above 80,000 shares.
Under the terms of the agreement, which has been unanimously approved by both companies’ Boards of Directors, a wholly-owned subsidiary of Honeywell will commence a tender offer within ten business days to purchase all of EMS’s outstanding shares for $33.00 per share in cash. The transaction represents a 33% premium to EMS’s closing stock price on June 10, and a 59% premium to EMS’s closing price on April 18, one day prior to the Company’s announcement that it was reviewing strategic alternatives.

The Board of Directors of EMS will recommend that EMS shareholders tender their shares in the tender offer. The transaction, which is subject to successful completion of the tender offer, regulatory approval and customary closing terms and conditions, is expected to be completed in the third quarter of 2011.

“This announcement is the culmination of the robust strategic review process we have been engaged in since April,” said Jack Mowell, Chairman of EMS’s Board of Directors in the June 13 press release trumpeting the deal. “With the assistance of experienced outside advisors, we determined that this transaction is the best way to maximize value for our shareholders.”

EMS, located in Norcross, Georgia, keeps people and systems connected – on land, at sea, in the air or in space. EMS offers industry-leading technology to support Aero Connectivity and Global Resource Management markets though a broad range of cutting-edge satellite and terrestrial network products; helping businesses, assets and people stay connected and promoting universal mobility, visibility and intelligence

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Skyworks Solutions Inc. (SWKS) has above-average trading day on above-market growth

Tuesday, June 7th, 2011

Skyworks Solutions Inc. (Nasdaq: SWKS) shares rose 8.3% to $25.20 Tuesday, after the wireless semiconductor company affirmed its upbeat third-quarter forecast. Volume for the stock 10.8 million shares, more than double its daily average.

The Woburn, Mass.-based company is affirming its outlook for above-market growth, excluding its recently announced acquisitions. In April 2011, Skyworks guided to approximately $345 million in revenue with non-GAAP diluted earnings per share of $0.46 for the current quarter.

Further, during the earnings conference call, the Company indicated it was on a path to approach a $1.5-billion-revenue run rate with $2.00 in annualized non-GAAP diluted earnings per share in the September quarter. This growth outlook is being driven by the Company’s broad customer base, diversification into new markets and increasing share gains.

In the June 7 press release announcing the projections, Skyworks Chief Financial Officer, Donald Palette declared, “Skyworks’ core business continues to outperform our addressed markets and we believe this will be clearly reflected in our performance and guidance.

“To be clear,” Palette concluded, “our revenue and non-GAAP earnings outlook for both the June and September quarters is before we add the accretive SiGe and Advanced Analogic Technologies acquisitions.”

Skyworks Solutions, Inc. is an innovator of high reliability analog and mixed signal semiconductors. Leveraging core technologies, Skyworks offers diverse standard and custom linear products supporting automotive, broadband, cellular infrastructure, energy management, industrial, medical, military and mobile handset applications.

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Telvent GIT SA (TLVT) darts higher on French sale

Wednesday, June 1st, 2011

Telvent GIT SA’s (Nasdaq: TLVT) U.S.-listed shares rose 15.2% to $39.70, after France’s Schneider Electric said it would acquire the Spanish software maker for $2 billion. Volume for the stock totaled 4.4 million shares, compared to an all-day average of 141,632.

Abengoa, the international company that develops innovative technology solutions for sustainable development in the energy and environment sectors, has reached an agreement to sell its 40% stake in Telvent to Schneider for $40.00 U.S. per share. The transaction is subject to approvals from the European and U.S. competition authorities. The sale will be made as part of a tender offer that Schneider Electric will be launching within 10 business days.

Manuel Sanchez Ortega, CEO of Abengoa, said, “I believe this is a highly satisfactory transaction for Abengoa. We are strengthening our balance sheet from the sale of assets at a very attractive valuation, so we can continue to develop innovative solutions for sustainable development, and creating value for our shareholders. For us, it is equally important that the offer has been made by a company like Schneider Electric, which is presenting a solid and attractive project for Telvent, which in turn creates a great professional opportunity for Telvent employees.”

Telvent is a leading real-time IT solutions and information service provider, which employs more than 6,000 professionals in 19 countries. It was organized as a subsidiary of Abengoa in 1969. At the time of its initial public offering in 2004, Telvent was the first Spanish company to undertake a primary listing of its ordinary shares on the NASDAQ stock market.

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