Broca shares rocket after board reveals takeover talks

SHARES in Broca Group, the AIM listed mobile messaging specialist rocketed 125% today after it revealed it was in takeover talks.

The Lancashire company, which demerged from 2ergo Group in March 2007, said in a brief statement to the Stock Market: “The board of Broca, in the light of the recent share price movement, would like to confirm that the company is in discussions which may or may not lead to an offer being made.”

Broca’s market value is around £7.6m. Late last month the company said it would need a funding injection by March after revealing “significant slippage” in signing new commercial deals.

Shares soared 12.5p pr 124% to 22.5p on the news. The business is named after the part of the frontal lobe of the brain responsible for communication. Its pioneering technology allows users to pay securely for goods from their mobile phones.