Sector Update: Technology

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Technology shares were mixed in pre-market trade Thursday.

In technology stocks news, ANSYS ( ANSS ), an engineering simulation software company, said it has acquired SpaceClaim Corporation, a provider 3-D modeling software for engineers, for $85 million in cash, plus retention and an adjustment for working capital.

The transaction was closed on April 30, 2014. On a non-GAAP basis, the transaction is expected to be neutral to slightly accretive to ANSYS' non-GAAP earnings per share in 2014, and accretive in 2015 and beyond.

The shares closed at $76.31 on Wednesday with a 52-week range of $70.66 - $89.71.

And, Inteliquent ( IQNT ) shares were up 6% after it reported Q1 earnings of $0.28 per share and revenue of $56.22 million, both of which beat the Street view.

Finally, Iridium Commuications ( IRDM ) shares were up 6% after it reported earnings of $0.19 and revenue of $98.0 million, both of which beat the analyst estimate.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: ANSS , IQNT , IRDM

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