Sportech mulls takeover offers
The company recently announced a comprehensive review of the business and its capital structure, with CEO Ian Penrose and CFO Mickey Kalifa stepping down from their roles.
Sportech will now work in partnership with Canaccord Genuity to identify potential buyers and explore all options in order to “maximize value for shareholders”.
Several parties have approached Sportech to ask about its plans. Any discussions with third parties may be conducted within the context of a “formal sale process”, the company said.
Richard McGuire, Sportech’s non-executive chairman, commented, “We have today launched a formal sales process.
“Whilst we note there is no certainty that an offer, or suitable offer, will be forthcoming, our confidence in our businesses, in our growth opportunities and in our dedicated professional colleagues means that a potential sale is only one of the strategic options open to the company."
Sportech will provide further updates on the strategic review on November 9.
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