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Technology Stocks : 724 Solutions (NASD: SVNX, TSE:SVN) -- Ignore unavailable to you. Want to Upgrade?

To: Caxton Rhodes who wrote (188)	3/2/2000 7:29:00 AM
From: sPD	Respond to of 337

Rumoured buyout of Ezenet quote.bloomberg.com Ezenet (v.eze) home page is at ezenet.com and the SI thread is at Subject 27776 - - - - - - Ezenet Rises on Speculation 724 Solutions to Make Bid (Update1) By Maya Teleki and Keith Campbell Ezenet Rises on Speculation 724 Solutions to Make Bid (Update1) (Adds comment from Ezenet CFO in fifth paragraph.) Toronto, March 1 (Bloomberg) -- Ezenet Corp. shares rose 38 percent on speculation the developer of software for the financial industry may be taken over by rival 724 Solutions Inc., traders said. Chris Shelton, a trader at Charles Schwab Canada Corp. in Toronto, said he heard speculation that 724 Solutions would bid for Ezenet. Ezenet stock rose C$6 ($4.14) to C$21.95 on the Canadian Venture Exchange in trading of 143,000 shares, compared with a six- month daily average of 18,000. Ezenet shares were halted earlier today when the company received an C$18 million investment from Octagon Capital Corp. and Salman Partners Inc. The company said it will use the proceeds to develop wireless and Linux-based financial applications. Ezenet Chief Financial Officer Terry Rogers said his company would consider a takeover offer, though he said it hasn't received one. ``We would certainly look at it,' Rogers said. ``We have the back end to their front end and they have a presence that we don't at this point.' Ezenet's software keeps track of financial transactions and accounts for banks, while 724 Solutions software lets banks provide services and deliver stock quotes over wireless phones, hand-held computers or pagers via the Internet. 724 Solutions is partly owned by Citigroup Inc., Bank of America Corp. and Bank of Montreal. The company, which first sold shares to the public at C$37.27 a share in January, has risen more than ninefold since, giving it a market value of C$11.9 billion. 724 Solutions stock rose C$65 to C$337. It signed an agreement with Swedish cell-phone maker Ericsson AB on Monday. 724 Solutions officials weren't immediately available to comment.