Monday, December 13, 2010

Ness Technologies Spikes On Takeover Chatter

Shares of Ness Technologies Inc. (NASDAQ: NSTC) soared more than 15% Monday on speculation that the company could be a takeover target. Four investment funds, including Warburg Pincus, have submitted bids to buy the company at a value of $300 million, Bloomberg News reported, citing the Israeli newspaper Calcalist. Francisco Partners, Foundation Capital, and City Venture Capital, have joined with Warburg in a bidding process that’s been going on for some months now, Calcalist reported, citing anonymous sources.The bidding process for Ness is expected to last until the middle of 2011. Stay tuned for more.

Full Disclosure: None.
Related Posts with Thumbnails

Wikinvest Wire