Agresso offer for Coda goes unconditional
Agresso cash offer of 205p per Coda share goes unconditional
Agresso announced this week that its cash offer for Coda of 205p per share
has gone unconditional after it received acceptances representing 89.1% of
Coda’s stock.
‘Being part of a much larger software organisation gives us the platform for
growth in the future, and I believe our customers and staff have much to look
forward to,’ said Coda chief executive Jeremy Roche.
Chris Ouwinga, chief executive of Unit 4 Agresso, which owns subsidiary
Agresso, said the deal was a ‘highly significant acquisition’ and would play a
‘key role’ in Agresso’s growth plans.
The new business is forecast to have annual revenues of €300m (£227m) and
operations in 19 countries.
Further reading:
Read
IT consultant and blogger John Tate’s view on the deal