Systems Union plays acquisition cards close to its chest
Software vendor admits to being in talks, but refuses to reveal further details
Systems Union is still remaining tight lipped over acquisition rumours.
The software firm, which owns the Pegasus and SunSystems financial software brand issued a statement to the Stock Exchange earlier this week admitting it is holding “very early stage discussions which may or may not lead to an offer being made for the company”.
Back in February the firm revealed positive end of year restuls – achieving overall turnover of nine per cent to £113.4m compared to £104.2m in 2004. Net profit stood at £6.9m, an increase of 77 per cent from the £3.9m posted the previous year.
When contacted by CRN, a Systems Union representative said the firm could make “no further comment” on acquisition rumours at this time.