The offer is for all existing issued share capital of Intelliplus, on the basis of three new Eckoh shares for every 58 Intelliplus shares. The offer values the deal at 8.9m pounds ($14.3m), or 0.74p ($1.19) per Intelliplus share, based on the closing price of 14.25p ($22.92) per Eckoh share, on August 5.
Although Eckoh, which was formerly 365 Corporation Plc, is known as a speech application service provider, it also has a network services side, and the rationale behind the offer is that there will be strategic, commercial, and financial synergies in combining the two operations. Intelliplus’s experience in network and infrastructure management, combined with Eckoh’s experience in interactive voice response service provision, will create one the largest interactive voice response operations in the United Kingdom, according to the company.
Intelliplus more than doubled its sales to 19m pounds ($30.5m) in the year to March 31, as losses were slashed to just 1.22m pounds ($1.9m) from 20.81m pounds ($33.4m).
Source: Computerwire