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Geong International Ltd

  • BY: Andrew Hore |
  • POSTED: 23/11/2011 |

Enterprise content management software provider Geong International Ltd is not going ahead with its previously announced acquisition of online marketing services provider Adbeyond.

Negotiations are continuing about the terms of the termination of the deal. There is no need for the proposed $8m convertible secured loan.

Geong continues to seek suitable acquisitions but tough stock market conditions make it difficult to finance deals but the company is looking at alternative ways of financing acquisitions.

At 24.5p a share, up 2.5p, Geong is valued at 9.27m.

Trading in the first half of the year is ahead of the same period last year and trading is in line with expectations. SaaS revenues are growing in importance. The order book is worth 15.6m.

The interim figures are due to be published on 20 December.

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