Shares of Mobius Management Systems Inc. (NASDAQ: MOBI) jumped on Thursday after it agreed to be acquired by Allen Systems Group, Inc. an enterprise software provider.
The Rye, New York-based records management company rose $2.35, or 31.6 percent, to 9.79 on the Nasdaq Stock Market.
Allen Systems will purchase the firm for $10.05 a share in cash, representing a 35 percent premium over its $7.44 closing price on April 11.
I feel that, with our common vision of the software industry, and complementary product sets, this combination will enable us to provide an even broader range of powerful solutions to the marketplaces we serve. Mitchell Gross, Mobius' CEO, said,
The transaction is expected to close in the second or third calendar quarter.