Software company Smoove set to join London stock market exodus
A producer of software for estate agents and conveyancers has received a string of takeover approaches which could result in its delisting from the AIM market.
A conveyancing software maker is in talks to join the growing exodus of companies from the London stock market.
Sky News has learnt that AIM-listed Smoove has received several takeover approaches from unnamed suitors.
City sources said on Monday that the company was engaged in discussions with at least one prospective buyer.
Smoove is a minnow in market capitalisation terms, with a valuation of less than £20m.
It says its mission is to "revolutionise home-moving and ownership", and had sales of just over £10m in the first half of its financial year.
The company made a pre-tax loss of £3m in the six months to 30 September.
Nevertheless, the news that it has received bid approaches adds its name to the queue of London-listed companies in talks about takeovers.
In recent weeks, Dechra Pharmaceuticals and THG, the owner of Lookfantastic and MyProtein, have disclosed talks about bids from private equity firms.
John Wood Group, the oilfield services provider, has also entered discussions about an offer from Apollo Global Management.
A Smoove spokesman declined to comment.
Sky News has learnt that AIM-listed Smoove has received several takeover approaches from unnamed suitors.
City sources said on Monday that the company was engaged in discussions with at least one prospective buyer.
Smoove is a minnow in market capitalisation terms, with a valuation of less than £20m.
It says its mission is to "revolutionise home-moving and ownership", and had sales of just over £10m in the first half of its financial year.
The company made a pre-tax loss of £3m in the six months to 30 September.
Nevertheless, the news that it has received bid approaches adds its name to the queue of London-listed companies in talks about takeovers.
In recent weeks, Dechra Pharmaceuticals and THG, the owner of Lookfantastic and MyProtein, have disclosed talks about bids from private equity firms.
John Wood Group, the oilfield services provider, has also entered discussions about an offer from Apollo Global Management.
A Smoove spokesman declined to comment.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
