February 2nd, 2012: Today in Canadian Tech

Finavera CEO Jason Bak with former US President Bill Clinton. Finavera released a corporate update today in which Bak said: "Finavera currently finds itself at an inflection point and we believe that the Company is on the cusp of a significant re-valuation."

The TSX was up +35.82 points to 12,553.48, a gain of 0.29%
Meanwhile, the S&P/TSX Capped Information Technology Index was up 3.65% to 26.98.

Here’s who said what in the world of Canadian tech stocks today:

Norsat (TSX: NII) announced the appointment of Ivan Gissing as General Manager of its Sinclair Division.

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Amaya Gaming (TSXV:AYA) agreed to terms on its offer to buy CryptoLogic (TSX:CRY). The offer values Cryptologic at approximately (US) $35.8 million.

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Finavera Wind Energy (TSX:FVR) released a corporate update. CEO Jason Bak said “The jump in value we expect as we drive these from early stage development to a fully permitted construction stage will be significant. Finavera currently finds itself at an inflection point and we believe that the company is on the cusp of a significant revaluation.”

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Zecotek Photonics (TSXV:ZMS) announced it signed a joint development agreement with NuCare Medical Systems of Seoul, Korea to integrate a high performance positron emission tomography (PET) medical scanning device using Zecotek’s patented LFS scintillation crystals, solid-state MAPD photo detectors and a new data acquisition board and readout system.

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Descartes (TSX:DSG) announced it will report its fourth quarter and fiscal year 2012 financial results before market open on Thursday, March 8, 2012.

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