IT firm Wave rides a big one with Linux developer buy
The small information technology training company says it has agreed to acquire Sair, a developer of Linux training materials, sending its stock price soaring.
Wave, a tiny information technology training company, today said it has agreed to acquire Sair, a developer of Linux training materials, sending its stock price soaring as high as 76 percent in morning trading to $7.38.
Terms of the agreement were not disclosed.
Founded in 1992, Sair develops Linux training materials and certification exams, including the Sair Linux & GNU Certification, which Wave technologies intends to continue as a separate subsidiary.
"Linux, a free and open-source operating system, is changing all the rules. More than ever, corporations are integrating Linux into their core computing environments, increasing the need for training," Ken Kousky, chief executive of Wave, said in a statement.
Wave reported revenues of $37 million in its most recent fiscal year.