The Channel logo

News

By | Kelly Fiveash 29th August 2007 12:06

iSoft bins CompuGroup in favour of IBA

Sick note for German firm

Poorly NHS software provider iSoft Group said today that it favoured a revised buyout bid from Aussie outfit IBA Health.

Germany's CompuGroup had, earlier in the summer, placed an offer of 66 pence a share in cash on the table but confirmed on 20 July that it would not increase its bid for the firm.

IBA then upped the ante on 21 August by offering 69 pence per iSoft share, valuing it at £166.3m, with the added incentive of a stock alternative on IBA shares.

Unsurprisingly, iSoft said it preferred the IBA option as it offered "superior value" for its shareholders.

The British firm, which is currently working on a lengthy, much-criticised £12.4bn NHS overhaul project, said it will withdraw CompuGroup's recommended bid and instead tout to its shareholders the revised offer from IBA. ®

alert Send corrections

Opinion

Ship scrapyard photo via Shutterstock
Windows 10 Universal Apps
Windows 10 on Surface 3

Tim Anderson

It's do-or-die for Microsoft's new operating system on 29 July

Features

Steve Ballmer. Pic:  Aanjhan Ranganathan
Nokia is the biggest write-off yet, but it wasn't the first
Confused computer keyboard
Last Christmas, I gave you my Cloud, the very next day you gave it away
Time to pull out the magnifying glass to swot up on those Ts&Cs
Android icon desktop toys
Nice devices, now speak 'enterprise' to me