Feeds

IBA boomerangs back into iSoft bidding war

Germans gazumped

Top three mobile application threats

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. ®

Seven Steps to Software Security

More from The Register

next story
NO MORE ALL CAPS and other pleasures of Visual Studio 14
Unpicking a packed preview that breaks down ASP.NET
Apple fanbois SCREAM as update BRICKS their Macbook Airs
Ragegasm spills over as firmware upgrade kills machines
Cheer up, Nokia fans. It can start making mobes again in 18 months
The real winner of the Nokia sale is *drumroll* ... Nokia
Mozilla fixes CRITICAL security holes in Firefox, urges v31 upgrade
Misc memory hazards 'could be exploited' - and guess what, one's a Javascript vuln
Put down that Oracle database patch: It could cost $23,000 per CPU
On-by-default INMEMORY tech a boon for developers ... as long as they can afford it
Google shows off new Chrome OS look
Athena springs full-grown from Chromium project's head
Apple: We'll unleash OS X Yosemite beta on the MASSES on 24 July
Starting today, regular fanbois will be guinea pigs, it tells Reg
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.