Ness Technologies Jumps 20% on Buyout Bid-War (NSTC)

Shares of Ness Technologies NSTC are trading higher this morning by 19.35%, at $5.49, on rumors that four investment funds are competing to acquire the company. According to the Israeli newspaper, Calcalist, Warburg Pincus LLC, Francisco Partners and Foundation Capital are among the firms involved in the bidding process for Ness Techologies, which has a shelf value of about $300 million. Ness Technologies, Inc. is a global provider of information technology, and business services and solutions with specialized expertise in software product engineering; system integration, application development and consulting, and software distribution.