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Skedda pulls out of bidding battle for Smartspace Software

Mon, 19th Feb 2024 15:45

(Alliance News) - Shares in Smartspace Software PLC on Monday fell after a potential suitor, Skedda Holdings Inc, pulled out of the running to make a bid for the company.

However, talks with another interested party, Sign In Solutions Inc, continue with the put-up-or-shut-up deadline for a proposed offer extended until March 18.

Shares in Smartspace Software, a designer and builder of smart software solutions based in Bury St Edmunds, fell 1.1% to 79.60 pence in London on Monday.

Skedda said it no longer intends to make an offer for SmartSpace, after proposing a 82 pence per share bid in December.

In January, this was trumped by a 90p per share indicative proposal by Sign In Solutions Inc.

Smartspace said that it would accept a bid at this level should one materialise.

By Jeremy Cutler, Alliance News reporter

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