(Alliance News) - Redcentric PLC on Friday said it is in the early stages of talks with Wiit Spa, over a possible takeover offer for the Harrogate, England-based IT service provider.
Redcentric shares traded 16% higher at 156.08 pence each in London late on Friday afternoon.
Wiit, a cloud and cybersecurity service provider is listed in Milan. Its shares were up 0.2% in late dealings. It has a market capitalisation of EUR486.4 million.
"Discussions are at a preliminary stage and there can be no certainty that any offer will be made, nor as to the terms of any such offer," Redcentric said, in a statement which it explained was in response to press reports.
Wiit has until June 21 to announce whether it plans to make an offer for Redcentric.
Reuters on Friday reported Redcentric has turned to investment bank Lazard to scope out possible buyers of the firm.
By Eric Cunha, Alliance News news editor
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Redcentric (RCN)