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Actua Corporation stock price
Actua Corporation latest news:
Actua shares jump on plan to distribute business sales to shareholders
Actua Corp. shares jumped in the extended session Monday after the cloud-based software and services company said it was selling three of its majority-owned businesses and distributing proceeds to shareholders. Actua shares soared 28% to $15.65 after hours, following a brief halt. The company said it plans to sell interest in its VelocityEHS, Bolt Solutions and FolioDynamix businesses for a total of $549 million cash. Actua said it is selling its interest in the software company VelocityEHS and online insurance service platform Bolt Solutions to CVC Growth Fund, and web-based wealth management technology platform FolioDynamix to Envestnet Inc. . Envestnet shares were unchanged at $49.90 after hours. Actua said it expects proceeds of $14.35 to $15.18 a share from the sales with distribution to shareholders in the first quarter of 2018. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.