Hit #64
Centra Software (CTRA) was acquired late last week by Saba (SABA), in a cash and stock deal, valuing Centra at around $2/share. This represents a 8% premium over my average cost of around $1.85/share.
The transaction didn't get the right kind of welcome from investors and Saba's stock was hit taking Centra down along with it. While this is definitely a bad deal for Centra investors, since I think a better price was certainly achievable, this should work out well for Saba in the longer run.
Saba itself will be a target down the road for someone like SSA Global. I will be watching for any positive news to buy into Saba.
Previous hit - Siebel (#63)
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