Feeds

Canadian firm swoops on JBA

AS/400 to ERP house valued at over £90m

  • alert
  • submit to reddit

New hybrid storage solutions

JBA Holdings has agreed to a cash bid from Canadian software reseller GEAC Computer, valuing the company at over £90 million. GEAC will pay 250 pence per share for the Birmingham-based software vendor and AS/400 house, according to a statement to the stock exchange this morning. The offer will be made by ING Barings on behalf of GEAC UK, a GEAC subsidiary created to make the offer. It represents about 71 per cent above the closing mid-market price of JBA shares on 13 July, which was the last dealing day before JBA said it had received indication of an offer. The move values the company at around £92.5 million. GEAC already owns one million JBA shares, or 2.7 per cent of JBA share capital. The JBA directors said they considered the deal "fair and reasonable and unanimously intend to recommend JBA shareholders to accept the offer". The JBA group makes enterprise resource planning (ERP) software, specifically for mid-sized enterprises. GEAC, based in Markham, Ontario, provides software and systems to large and mid-sized businesses, including the ERP, property management and banking sectors. Douglas Bergeron, GEAC president and CEO, said: "We are enthusiastic about the opportunities for JBA within the GEAC Group, and look forward to developing the joint group’s position within both the mid-sized and large-sized segments of the global ERP market." JBA made a pre-tax loss before exceptional items of £14.5 million for the year ended 31 December 1998. Earlier this month it announced a company re-jig to split the group in four. It also cut its global workforce by eight per cent to 3000. ®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.