(Alliance News) - Pelatro PLC on Wednesday said it will continue evaluating potential acquisition opportunities, despite one potential purchase falling through.
The London-based marketing software specialist said that it has been in "early stages of evaluating one particular opportunity which would have added recurring revenue and cash flow as well as diversified the company away from emerging markets with a broader geographic presence."
However, it noted that the owners of that target have now indicated that they are unlikely to want to sell the business in the near term and hence discussions have terminated.
"The board will continue to evaluate potential acquisition opportunities that fit the group's focused criteria and will update shareholders as appropriate," Pelatro added.
Shares in Pelatro were down 1.8% to 8.11 pence each in London on Wednesday around midday.
By Sophie Rose, Alliance News reporter
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