#UK Chinese acquisition values Sepura at £74 million

//

sepura, arm holdings, cambridge tech cluster

Cambridge communications technology specialist Sepura has been sold to a subsidiary of Chinese company Hytera Corporation in a deal that values the UK business at £74 million.

The boards reached agreement on the terms of a recommended cash offer to be made by Project Shortway Limited, an indirect wholly-owned subsidiary of Hytera, for the entire issued and to be issued ordinary share capital of Sepura.

Each Sepura shareholder will be entitled to receive 20p per share cash. The deal price represents a premium of approximately 35.6 per cent to the closing price of 14.75 pence per Sepura share on November 3 – the last business day prior to the announcement that the companies were in talks and the start of the offer period.

Hytera said Sepura, our reigning Business of the Year, was an excellent strategic fit with Hytera’s existing operations and the acquisition will broaden the range of products and services the Chinese corporation can offer customers.

The Sepura board intends to recommend unanimously that shareholders accept the deal on the table.

Hytera is a leading provider of Professional Mobile Radio (PMR) communication solutions for clients in government, public security, utility, transportation and enterprise sectors across more than 120 countries and regions across the world.

The acquisition is expected to complete in the first quarter of 2017. Sepura chairman Alan Lovell said: “This transaction with Hytera recognises the underlying strengths of Sepura’s technology and customer base despite the difficulties of the last 12 months.

“It will provide certainty for our shareholders and secure the future of the business. There will be additional opportunities and benefits for the business and its employees as part of a larger group.”

Neither party has clarified whether Sepura will continue to expand from its new Cambridge Research Park HQ but that is expected to be the case.

from Business Weekly http://ift.tt/2h7PT9y

Ce contenu a été publié dans #UK par Startup365. Mettez-le en favori avec son permalien.

A propos Startup365

Chaque jour nous vous présenterons une nouvelle Startup française ! Notre pays regorge de talents et d'entrepreneurs brillants ! Alors partons à la découverte des meilleures startup françaises ! Certaines d'entre elles sont dans une étape essentielle dans la vie d'une startup : la recherche de financement, notamment par le financement participatif (ou crowdfunding en anglais). Alors participez à cette grande aventure en leur faisant une petite donation ! Les startups françaises ont besoin de vous !