Feeds

IBA boomerangs back into iSoft bidding war

Germans gazumped

Top 5 reasons to deploy VMware with Tegile

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. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Preview redux: Microsoft ships new Windows 10 build with 7,000 changes
Latest bleeding-edge bits borrow Action Center from Windows Phone
Google opens Inbox – email for people too thick to handle email
Print this article out and give it to someone tech-y if you get stuck
Microsoft promises Windows 10 will mean two-factor auth for all
Sneak peek at security features Redmond's baking into new OS
FTDI yanks chip-bricking driver from Windows Update, vows to fight on
Next driver to battle fake chips with 'non-invasive' methods
UNIX greybeards threaten Debian fork over systemd plan
'Veteran Unix Admins' fear desktop emphasis is betraying open source
Entity Framework goes 'code first' as Microsoft pulls visual design tool
Visual Studio database diagramming's out the window
Google+ goes TITSUP. But WHO knew? How long? Anyone ... Hello ...
Wobbly Gmail, Contacts, Calendar on the other hand ...
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.