Feeds

IBA boomerangs back into iSoft bidding war

Germans gazumped

Boost IT visibility and business value

The battle for crocked NHS software outfit iSoft has flared up again with the news that Aussie group IBA has moved to gazump the bid from German firm CompuGroup Holding that was accepted in July.

IBA has also swooped to accumulate 24 per cent of iSoft shares in the market as a spoiler. Its new bid to acquire the target outright values iSoft at £0.69 per share, or about £166.3m total. In May IBA pitched £0.52 per share in an all-stock deal which was accepted but then bested by CompuGroup's £0.66 per share raid.

CompuGroup was able to cut in when IBA's original bid was stalled by objections from CSC, which iSoft has obligations to under its NHS contracts. CSC ruled itself out of the takeover running last Friday.

As part of its bid, CompuGroup has agreed to flog Lorenzo, iSoft's key contribution to the multibillion-pound National Programme for IT, to CSC.

IBA boss Gary Cohen told the Financial Times today that a break-up would be bad value for iSoft shareholders.

iSoft's board will now consider IBA's new offer, which has been bankrolled by a £120m cash injection from Allco Equity Partners, an Aussie investment fund. CSC's influence could still be crucial. ®

Boost IT visibility and business value

More from The Register

next story
The Return of BSOD: Does ANYONE trust Microsoft patches?
Sysadmins, you're either fighting fires or seen as incompetents now
Munich considers dumping Linux for ... GULP ... Windows!
Give a penguinista a hug, the Outlook's not good for open source's poster child
Intel's Raspberry Pi rival Galileo can now run Windows
Behold the Internet of Things. Wintel Things
Linux Foundation says many Linux admins and engineers are certifiable
Floats exam program to help IT employers lock up talent
Microsoft cries UNINSTALL in the wake of Blue Screens of Death™
Cache crash causes contained choloric calamity
Eat up Martha! Microsoft slings handwriting recog into OneNote on Android
Freehand input on non-Windows kit for the first time
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.