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Bond International Software

  • BY: Andrew Hore |
  • POSTED: 23/02/2010 |

Constellation Software has increased its stake in Bond International Software to 10.35%.

Constellation declared that it had a stake of 3.48% on 10 December the day after the recruitment software provider issued a profit warning. The shareholding was increased to 9.6% at the end of January.

The share price has fallen back since the end of January. At 72.5p a share, Bond is valued at 24m. Net debt was 2.4m at the end of June 2009. Bond should report figures for 2009 at the end of March. Broker Cenkos was forecasting a 2009 profit of 1.6m back in December.

TSX-listed Constellation is an acquisitive software company. It bid 25p a share for membership and education software provider Gladstone at the end of 2008. It failed to gain the backing of a majority of shareholders but it retains 29.9% of Gladstone.

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