Speedus Corp. (SPDE) Surges 136% on Word of Acquisition of Green Technology for Data Cooling
Shares of Speedus Corp. (Nasdaq: SPDE) soared nearly 136 percent to $2.92 in Tuesday’s mid-day trading, shortly after the company announced Density Dynamics Corp.’s (DDC) acquisition of green technology pioneered by TiGi Corp. DDC was recently formed by Speedus; it’s product line offers solutions to energy use problems identified with IBM and its efforts to curb the Data Center Energy Crisis with Project Big Green. Last month, IBM announced new software designed to address the growing need to maximize energy efficiency while lowering power and cooling costs. IBM has committed $1 billion per year for its Project Big Green, in…