TechMARK movers: Kofax sells hardware division

17th Jan 2011 12:53

Document automation software supplier Kofax is selling its hardware business to Hannover Finanz. Kofax expects to generate at least $20m in cash from the disposal of the imaging and archive storage equipment supplier, which should be completed in March. The business generated an operating profit of $2.3m on revenues of $128.5m in the year to June 2010. Not such good news is a $2.6m write-down relating to the restructuring of the software business. This should generate annual cost savings of $2.5m from 2012 onwards. Medical devices supplier Smith & Nephew continues to rise on the back of bid rumours. S&P Equity Research has downgraded software supplier Autonomy from buy to hold. FTSE TechMARK - Risers Smith & Nephew (SN.) 715.50p +4.45%Kofax (KFX) 339.00p +4.31%COLT Group SA (COLT) 144.20p +2.71%Promethean World (PRW) 69.75p +1.82%BAE Systems (BA.) 352.80p +1.76%Filtronic (FTC) 58.00p +1.75%Vodafone Group (VOD) 174.95p +1.74%Asterand (ATD) 16.50p +1.54%Alterian (ALN) 204.50p +1.24%Torotrak (TRK) 22.00p +1.15%FTSE TechMARK - Fallers BATM Advanced Communications Ltd. (BVC) 22.00p -4.35%Autonomy Corporation (AU.) 1,490.00p -3.43%RM (RM.) 160.50p -2.13%Anite (AIE) 66.50p -1.85%Phoenix IT Group (PNX) 275.00p -1.79%Dialight (DIA) 550.50p -1.70%Wolfson Microelectronics (WLF) 292.25p -1.60%Sinclair Pharma (SPH) 41.25p -1.20%Phytopharm (PYM) 8.33p -1.19%Vernalis (VER) 44.00p -1.12%