NetManage soars 66% on acquisition announcement

NetManage, Inc. (Nasdaq:NETM) shares are skyrocketing 66% after the Britain-based software firm Micro Focus International PLC announced early Thursday that it plans to buy NetManage for $73.3 million, or $7.20 a share in cash. The transaction is expected to close in June.

In March, Rocket Software’s bid to acquire NetManage for $7.20 per share fell apart due to financing problems. Even though Rocket was able to get an extension on the deal, the software company was unable to secure financing before the required deadline.

For access to the full article, you must be a registered member - it's FREE.

Already a member? Please log in below