Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:
Open Solutions Sold in $1.3 Billion Deal [New York Times]
Summary: Open Solutions, a Glastonbury, Conn.-based company that provides software and services to financial institutions, has agreed to be acquired by Providence Equity Partners and the Carlyle Group for approximately $1.3 billion. Carlyle and Providence will pay $38 for each share of Open Solutions stock, representing a 32% premium over the average closing price of Open Solutions’ stock for the last 30 trading days. The deal is expected to close in the first quarter of 2007.
Related links: Multi-Core Processors Challenging Traditional Software Pricing Models • Google Entering Enterprise Market Alongside BEA
Potentially impacted stocks and ETFs: Open Solutions (NASDAQ:OPEN) • Fidelity National Financial (NYSE:FNF) • John H. Harland Company (JH) • Digital Insight (OTC:DGIN)
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