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Tech Stocks on the Move Today: Squarespace, Arm, and More [Video]

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Squarespace

Tech stocks rose in intraday trading Monday, with the S&P 500 Information Technology Sector Index 0.6% higher as of noon ET, while the tech-heavy Nasdaq was 0.2% higher. The broader S&P 500 was flat.

Squarespace (SQSP) shares soared after private equity firm Permira said it was buying the website building and hosting software maker and taking it private. A different private equity firm, Apollo Global Management, is reportedly in advanced talks with Intel (INTC) to provide funding for a new factory in Ireland, sending shares of the chipmaker higher. American depositary receipts (ADRs) of Arm Holdings (ARM) rose on a report the semiconductor designer plans to launch its first artificial intelligence (AI) chip next year.

Squarespace shares jumped 13%after private equity firm Permira announced it was buying the provider of software to build and host websites for $6.9 billion in cash. The acquisition will pay Squarespace investors $44 per share, …

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