The Channel logo

News

By | Kelly Fiveash 1st February 2008 11:12

Coda green lights Agresso bid

Show me the way to the next SAASy bar

Coda has recommended Unit 4 Agresso's 205 pence per share cash offer to shareholders after no other suitors stepped forward with a bid for the financial management software firm.

Netherlands-based Unit 4 Agresso approached Coda in December last year, although the two firms didn't reveal a takeover bid could be in the pipeline until mid-January.

The agreement values Coda's equity at £158m and the Aim-listed company has granted limited due diligence to Unit 4 Agresso.

Unit 4 Agresso said the deal will create a pan-European financial software provider punting its ERP software at the mid-market, and added that Coda would open up access to emerging markets in central and eastern Europe and Asia Pacific.

Coda shares are currently trading at 201 pence on the London Stock Exchange.

The Unit 4 Agresso press release is here. ®

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