AXENT (NASDAQ:AXNT) shares lose 25% to $24.0625 per share as the security firm announces a $50 million stock acquisition of UK-based PassGo, which makes products that control access to Webs. While AXNT gets a downgrade from several research analysts based on the in-process research and development charge of up to 30% of the purchase price. But
I believe the buy helps position AXENT in two ways: in Europe and in offering more security solutions. Short-term earnings hit for longer term possible gain. Who says logic has anything to do with stock movement?
Beyond.com (NASDAQ:BYND) completes the acquisition of software ESD effort Buydirect.com for $123 million stock. BYND finally starts to move on the deal which I think could add $15 million to $20 million to Beyond’s revenue if not this year then 2000.
InfoSpace.com (NASDAQ:INSP) completes a 3.2 million secondary offering at $89.50 per share, raising $286 million. 1.9 million shares were from the content/commerce wholesale network and the rest were from shareholders.
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