News / Stocks
Obsidian Financial’s Morning Market News for Monday October 24, 2011: eMamba International Corp., Oracle, RightNow Technologies, Cigna Corporation, HealthSpring Inc.
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eMamba International Corp. (OTC: EMBA), an emerging provider of cloud-based business software and after-sales customer services, announced on Friday 10/21/11, an update on eMamba's negotiations with Acer Inc. regarding its first Statement of Work (SOW). As reported on October 17, 2011, eMamba announced it has signed a Master Services Agreement with Acer. eMamba and Acer are currently involved in international business negotiations, which are expected to be finalized by no later than November 21, 2011. The SOW discussions cover desktops, laptops, projectors and monitors for the Acer, Gateway and eMachines Brands.
To view the full press release for eMamba International Corp. (OTC: EMBA), visit OFinancialinc.com
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Oracle (NASDAQ: ORCL) agreed today 10/24/11, to buy RightNow Technologies (NASDAQ: RNOW) for $43 a share, valuing the cloud technology company with a customer service specialty at $1.5 billion when counting its debt. RightNow's board unanimously approved the deal, which needs shareholder and regulatory approvals. The merger is expected to close at the end of the year or early 2012. The announcement didn't state whether the transaction is cash or stock. The deal is a boost to Oracle's Public Cloud business, and it bolsters its presence in call center and social networking spaces. At $43 a share, the purchase represents the highest price paid for RightNow, which went public in 2004. The Bozeman, Montana- based company founded in 1997 closed Friday trading at $35.96 a share and has gained 51.9% year to date.
Cigna Corporation (NYSE: CI) and HealthSpring, Inc. (NYSE: HS) announced today 10/24/11, that they have signed a definitive agreement under which Cigna will acquire all the outstanding shares of HealthSpring for $55 per share in cash, a 37% premium over the closing stock price on Friday October 21, 2011, representing a total transaction value of approximately $3.8 billion. HealthSpring’s proven leadership team, headed by its Chairman and Chief Executive Officer Herb Fritch, will lead Cigna's expansion in our rapidly growing Seniors and Medicare segments. The business combination is expected to be accretive to Cigna earnings per share in the first full year of operations. The agreement has been approved by the boards of directors of both companies and is subject to required regulatory approvals and customary closing conditions. The transaction is expected to close during the first half of 2012 and is not subject to a financing condition. “HealthSpring is a great fit with Cigna's growth plans to expand into the Seniors and Medicare segment through a premier business and trusted brand name,” said David M. Cordani, President and Chief Executive Officer. “Our two companies share a common strategic vision and philosophy that we create customer value by partnering with health care professionals, and use information and incentives to deliver high-quality, differentiated programs.”
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