NetManage to be acquired by Rocket Software
Software developer NetManage, Inc. (Nasdaq: NETM) reported this morning that Rocket Software, Inc. a privately held corporation, will purchase NetManage for $7.20 per share, or $69 million in aggregate.
Rocket’s offer represents a 95% premium over NetManage's closing share price of $3.69 on Dec. 11.
Shares of NetManage (NETM) rocketed 86.72%, or $3.20, to $6.89 at 10:38 a.m. ET. Shares of NetManage have been trading in the range of $3.60 to $5.92 for the past 52 weeks.
