Focus surges as it confirms takeover talks

SHARES in Warwickshire-based financial software supplier Focus Solutions surged after the company confirmed it was in talks about a possible takeover.

The firm’s share price rose almost 30% at on stage following the announcement, before falling back slightly and finally closing up 26.19%.

In a statement to the London Stock Exchange, Focus stated: “The board of Focus Solutions notes the recent movement in its share price and confirms that it is in preliminary discussions which may or may not lead to an offer being made for the entire issued share capital of the company.

“Discussions are at an early stage and there can be no certainty that an offer will be made or as to the terms on which an offer might be made.”
 
The Leamington Spa firm is being jointly advised by Cavendish Corporate Finance and Capital Strategy Corporate Finance Ltd. It said it would make a further announcement when appropriate.
 
The company has enjoyed some notable successes of late and last month announced its largest ever order – a £10m deal with a global bank. In September it announced it had secured a £1m contract extension with HSBC.