Shares in Smartspace Software PLC (AIM:SMRT) climbed 25% on Monday morning after the company revealed a possible takeover offer from workplace solutions firm Sign In Solutions Inc.
PSG Equity LLC subsidiary Sign In Solutions made a non-binding offer to purchase Smartspace’s entire issued and yet to be issued capital for 90p per share.
This marks an almost 40% premium on SmartSpace’s Friday closing share price of 65p, with the company’s board recommending shareholders accept the offer in an update.
Though due diligence will need to be satisfied and a firmed up offer is yet to be made, software provider Smartspace said discussions were ongoing over the takeover proposal.
SmartSpace shares jumped 25.4% to 81.5p.