Sector Update: Technology Shares Mixed; Applied Materials up 6% on Merger Plans
Top Technology Stocks:
Technology shares are mixed in pre-bell trading today. Greenway Medical Technologies ( GWAY ) shares are up 18% at a new 52-week high of $20.27 after late yesterday it announced a definitive agreement which will result in the combination of the businesses of Greenway and Vitera Healthcare Solutions, LLC.
Under the terms of the agreement, Vista Equity Partners, which owns Vitera Healthcare Solutions, will pay Greenway stockholders $20.35 in cash for each share of Greenway common stock they hold.
Finally, Applied Materials, Inc. ( AMAT ) shares are up 6% after it signed an agreement to merge with Tokyo Electron Limited to create a global company that focuses on semiconductor and display manufacturing technology via an all-stock combination. The newly combined company is valued at approximately $29 billion.