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Systems Union Group has confirmed it is in talks which could lead to its sale.

The finance software company's shares shot up this morning from 180p to 225p by lunchtime.

In response, SUG issued a statement to the Regulatory News Service, which said: "The board of Systems Union Group plc (the 'company') notes the recent movement in the company's share price.

As part of its strategic growth objectives and in the background of ongoing consolidation in the Enterprise Resource Planning and Corporate Performance Management marketplace, the board confirms that it is currently holding very early stage discussions which may or may not lead to an offer being made for the company. A further announcement will be made in due course."

Read the whole statement here.

Last month Systems Union Group posted results for the year ended 31 December 2005. It made a profit before tax of £8.2m on revenue of £113.4m. ®

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