Kin & Carta PLC - London-based business software consultancy - Contract with unnamed "key" financial services company client ended on Wednesday. The contract was worth up to USD90 million over two years at signing, but the client spent in excess of the initial contract value, Kin & Carta says. "Engagement with the client continues to be robust, and Kin & Carta continues to provide its services spanning many projects and deliverable timelines in line with the client's expectation on a rolling basis. Our fiscal year outlook remains unchanged," Kin & Carta says.
Kin & Carta shareholders earlier this month approved the takeover of the company by funds advised by BC Partners LLP, after rival bidder Apax Partners backed off. The offer is 130 pence per share in cash.
Current stock price: 128.60 pence, up 0.5%
12-month change: up 15%
By Greg Rosenvinge, Alliance News senior reporter
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