ICG Group changes name to Actua

ICG Group Inc. a Radnor tech firm now focused on cloud computing, said Wednesday that it had changed its name to Actua Corp. and will change its Nasdaq ticker symbol from ICGE to ACTA.

"Over time, we have matured into a high-growth, high-margin, pure-play cloud company," CEO Walter Buckley said in a statement. The rebranding comes with a new website - www.actua.com. Buckley cofounded the company in 1996 as Internet Capital Group.

Actua employs 650, last month said it had a net loss of $12.9 million, or 35 cents per share on revenue of $19 million for the quarter that ended June 30, compared with a loss of $6.9 million, or 19 cents per share, on revenue of $13.5 million in the same three months a year earlier.

Shares were up 51 cents, or about 3 percent, at $17.86 in afternoon trading. - Inquirer staff