News blog
Xpertise Group
- BY: Andrew Hore |
- POSTED: 22/08/2008 |
IT training provider Xpertise Group has received a bid from its bigger rival.
QA-IQ, which is the UK number one in IT training, is bidding 150p a share for Xpertise on condition that its bid for Parity and the associated share issue don’t go ahead.
The bid values Xpertise at £8.7m. It had net cash of £2.1m at the end of 2007.
Xpertise shares jumped 66.5p to 143.5p on the news.
Xpertise is still considering its response.
Private-equity backed QA-IQ is in a strong position. It has the backing of shareholders owning 46.4% of Xpertise. The institutions backing the bid are Unicorn, ISIS, Singer & Friedlander, Rensburg Sheppards and Close.
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