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Atlantic Global
- BY: Andrew Hore |
- POSTED: 29/09/2011 |
Resource management software developer Atlantic Global has put itself up for sale.
It has received two preliminary approaches and a formal sale process, handled by ICON Corporate Finance, has started. The board recognises that the business could grow faster if it is owned by a group with more extensive distribution and global relationships.
Turnover slipped from £728,000 to £703,000 in the six months to June 2011. Pre-tax profit edged ahead from £21,000 to £33,000.
One-third of the 120 customers now use the SaaS offering. New customers are delaying orders and putting them on hold.
At 15.5p a share, up 3p, Atlantic Global is valued at £3.47m. There is £2.03m of cash in the balance sheet.
Download the September 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFSeptember2011_24.pdf
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