Tech Sector Updates: Complementary Research on Selectica, One Horizon Group, MIND C.T.I., Virtusa Corp., and Pacific DataVision

May 15, 2015, 09:30 ET from Analysts Review

NEW YORK, May 15, 2015 /PRNewswire/ --

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Moments ago, Analysts Review released new research updates concerning several important developing situations including Selectica, Inc. (NASDAQ: SLTC), One Horizon Group, Inc. (NASDAQ: OHGI), MIND C.T.I., Ltd. (NASDAQ: MNDO), Virtusa Corp. (NASDAQ: VRTU), and Pacific DataVision, Inc. (NASDAQ: PDVW). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.

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Today's update concerns the following companies:


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Analyst Update: Acquisition, Financial & Operational Results

U.S. stocks closed higher on Thursday, recovering from a sequence of slight losses over the week. The rally came despite unexpected drop in both weekly jobless claims and headline inflation figure. The NASDAQ Composite closed at 5,050.79, up 1.39%, the S&P 500 jumped 1.08%, to 2,121.10, and the Dow Jones Industrial Average ended the session 1.06% higher, at 18,252.24. European stocks surged sharply higher on Thursday after the European Central Bank's president reaffirmed its commitment to continue massive stimulus program for the Eurozone. Germany's DAX 30 advanced 1.84%, France's CAC 40 gained 1.36%, and London's FTSE 100 closed 0.34% higher on Thursday. Meanwhile, Asian markets were once again mixed on Thursday. The Shanghai Composite and Hong Kong's Hang Seng posted modest gains, while Japan's Nikkei fell on Thursday.

On March 30, 2015, Selectica, Inc. announced that it has entered into a definitive acquisition agreement with b-pack, a global leader in purchase-to-pay (P2P) software and services, for c. $12.5 million in cash and stock. Ranked by Gartner as a visionary in the 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement, Selectica intends to pay approximately 90% of the purchase price in Selectica stock (calculated at a fixed price of $6.11 per share, resulting in 1,841,244 shares of common stock to be issued) and 10% in cash.

On April 1, 2015, One Horizon Group, Inc. announced its financial and operational results for the full year ended on December 31, 2014. Reported revenue for the twelve months ended December 31, 2014 was c. $5.1 million versus c. $9.1 million in the same period in 2013. The decrease was primarily due to revenue generated in 2013 for the maintenance of banking software and licenses for a customer booked in January 2013.

On April 27, 2015, MIND C.T.I. LTD., a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product based solutions, announced its financial results for its first quarter ended March 31, 2015. The Company reported total revenue of $5.7 million, down 12.30% QoQ and flat as compared to the comparable quarter year ago.

On May 11, 2015, Virtusa Corporation, a global business consulting and IT outsourcing company, reported its financial results for the fourth quarter of fiscal 2015 (period ended March 31, 2015). The Company reported revenue as $126 million, an increase of 2.5% sequentially and 13% YoY. Net income came in at $11.6 million, or $0.39 per diluted share, compared to $11.8 million, or $0.40 per diluted share, in Q3 FY 2015, and an increase from $10.0 million, or $0.35 per diluted share, in Q4 FY 2014.

Pacific DataVision, Inc. d/b/a pdvWireless, a leading provider of mobile workforce communications and location based solutions, announced in a press release dated May 13, 2015 that it has fixed an offer price of $40.00 per share for its public offering of 1,500,000 shares of common stock. The Company expects roughly $56.3 million from this offering after deducting the underwriting discounts and commissions and estimated offering expenses.


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