Bridgewater Systems (BWC.TO), the global leader in intelligent broadband controls, was up sharply by more than 28% at $8.12 on the Toronto Stock Exchange after reportedly saying yes to a friendly takeover from Amdocs Limited, valuing the company at approximately $211 million.
The company said: "Becoming part of Amdocs would enable us to accelerate our corporate growth strategy, centered around global expansion, enabling the transformation to next generation converged networks, portfolio and solution innovation, and leveraging our installed base."
The transaction still requires approval from Bridgewater shareholders and regulators, but is expected to close by mid-September.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
