Markets

Sector Update: Technology Shares Higher Pre-Market; T-Mobile Rises on Plans to Buy Licenses from Verizon

Top Technology Stocks:

MSFT: +0.24%

AAPL: -0.55%

IBM: +0.19%

CSCO: +0.45%

GOOG: +0.66%

Technology shares were higher in pre-market trading today.

In technology stocks news, T-Mobile US ( TMUS ) was up more than 1% after it said it will buy certain 700 MHz A-Block spectrum licenses from Verizon Communications' ( VZ ) wireless unit for $2.37 billion in cash as well as certain AWS and PCS spectrum licenses that are worth approximately $950 million.

"These transactions represent our biggest move yet in a series of initiatives that are rapidly expanding our already lightning fast network and improving its performance across the country," CEO John Legere said in a statement.

Following approval the transactions are expected to close in the middle of this year.

And, Verint Systems ( VRNT ) says it agreed to buy KANA Software for approximately $514 million in cash. The deal is seen closing in VRNT's FYQ1, ending April 30. VRNT expects KANA to generate non-GAAP revenue of $140 million to $150 million and non-GAAP EBITDA between $40 million to $45 million in calendar year 2014 (KANA's fiscal year).

Finally, SiriusXM said late Friday its Board received a non-binding letter from Liberty Media Corporation (LMCA, LMCB) to buy SIRI.

Each share of SIRI could be converted to the right to 0.0760 of a new share of Liberty Series C common stock. SIRI shares were up 10% at $3.95 in heavy pre-market trade.

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

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