Sector Update: Technology


Technology shares were mixed in pre-market trade Monday.

In technology stocks news, MICROS Systems ( MCRS ), a provider of information technology solutions, has agreed to be acquired by Oracle ( ORCL ).

Under the terms of the agreement, MICROS stockholders will receive $68.00 in cash for each share of common stock they hold. The purchase price represents a fully-diluted equity value of approximately $5.3 billion, or $4.6 billion net of cash.

And, Avago Technologies ( AVGO ) has agreed to acquire PLX Technology ( PLXT ) in an all-cash transaction valued at approximately $309 million, or $293 million net of cash and debt acquired.

Under the terms of the agreement, which was approved by the Boards of Directors of both companies, a subsidiary of Avago will begin a tender offer for all of the outstanding shares of PLX common stock for $6.50 per share in cash. Avago expects to fund the transaction with cash available on its balance sheet.

And, Ixia ( XXIA ) is lower in pre-market trading after the company reported financial results for Q4, or the quarter ended Dec. 31, 2013, that fell short of analysts' expectations, and provided guidance for Q1 2014 revenue below estimates.

Shares are down, on track to slipping below the 52-week low of 11.27.

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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: MCRS , ORCL , AVGO , PLXT , XXIA

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