CHICAGO, May 5, 2011 /PRNewswire/ -- TechAmerica announced today that the NASDAQ OMX AeA Illinois Tech Index (NASDAQ: ILTI) increased in value by 11.3% since November 4, 2010. The Illinois Tech Index added three constituents in recent months, Dover Corporation (NYSE: DOV), Motorola Mobility, Inc. (NYSE: MMI), and Sagent Pharmaceuticals, Inc. (NASDAQ: SGNT). There were no constituent deletions in the past six months.
"The performance and growth of the Illinois Tech Index highlights the strength and diversity of Illinois' technology community," said Ed Longanecker, Executive Director, TechAmerica Midwest. "We are proud to celebrate the index and are committed to supporting the continued growth and success of the Illinois technology industry."
On May 19, 2008, AeA and The NASDAQ Stock Market, a subsidiary of the NASDAQ OMX Group, Inc., officially unveiled the NASDAQ OMX AeA Illinois Tech Index, the first state-wide public technology index in the U.S., developed to promote Illinois' leading technology companies and outstanding technology resources. The index is a public-private partnership supported by the Illinois Department of Commerce and Economic Opportunity, Grant Thornton LLP, Baker & McKenzie, and the Illinois Biotechnology Industry Organization (iBIO), and tracks all public companies headquartered in Illinois from major sectors including high tech manufacturing, information technology, biotech, alternative fuels, and life sciences.
The NASDAQ OMX AeA Illinois Tech Index is a market capitalization-weighted index that began with a base value of 1000.00. As of May 4, 2011, there were fifty-three companies listed on the Illinois Tech Index (ILTI) with a combined market value of nearly $300 billion.
Recent significant events include the initial public offering of Sagent Pharmaceuticals, Inc., the split of Motorola, Inc. into two publicly traded companies, and the addition of Dover Corporation to the Illinois Tech Index following their corporate relocation to Illinois. Additionally, Charles Schwab recently announced plans to acquire Illinois based optionsXpress Holdings, Inc. The deal is expected to close during the third quarter.
The top ten index constituents include Abbott Laboratories 26%, Boeing Company (The) 18.8%, Baxter International Inc. 10.6%, Illinois Tool Works Inc. 9.3%, Archer-Daniels-Midland Company 7.6%, Motorola Solutions, Inc. 4.9%, Dover Corporation 4%, Hospira Inc. 3%, Motorola Mobility, Inc. 2.4%, and Allscripts Healthcare Solutions Inc. 1.3%.
The Illinois Tech Index is calculated during the trading day and is disseminated every 15 seconds from 09:30:15 to 17:16:00 ET. For a live quote, or for more information on the index, visit www.techamerica.org/illinois-tech-index.
TechAmerica is the leading voice for the U.S. technology industry - the driving force behind productivity growth and jobs creation in the United States and the foundation of the global innovation economy. Representing approximately 1,200 member companies of all sizes from the public and commercial sectors of the economy, it is the industry's largest advocacy organization and is dedicated to helping members' top and bottom lines. TechAmerica is also the technology industry's only grassroots-to-global advocacy network, with offices in state capitals around the United States, Washington, D.C., Europe (Brussels) and Asia (Beijing).It was formed by the merger of AeA (formerly the American Electronics Association), the Cyber Security Industry Alliance (CSIA), the Information Technology Association of America (ITAA) and the Government Electronics & Information Technology Association (GEIA).Learn more about TechAmerica at www.techamerica.org.