Ness Surges In Pre-Market Trading On Acquisition Agreement

Shares of Ness Technologies Inc NSTC advanced more than 13% in the pre-market session after NSTC agreed to be purchased by an affiliate of Citigroup Inc's C venture capital arm for $307 million in cash. Under the deal, the shareholders of Ness will receive $7.75 per share for each share they own, representing a 17.6% premium over their closing stock price on Thursday. The sale is likely to close in the next three to six months. Ness shares jumped 13.92% to $7.61 in pre-market trading. Read more from Benzinga's Company news.