AIT Group up for sale
CRM software solutions company AIT Group has put itself up for sale after postponing the publication of its full-year results.
The postponement concerns a perceived shortfall in profits and revenue. Problems with a proposed license agreement with one of AIT’s sales channel partners, and delayed revenue recognition from a license sale to CRM outsourcer Rossbank, means that AIT cannot recognise the value of the deals in this year’s accounts, as previously thought.
The accounting amendments were instigated by AIT’s auditor, Andersen.
AIT’s share price currently stands at 38.50, a 66% drop since the start of today’s trading.