Godmanchester firm sold to Francisco
GODMANCHESTER telematics specialist Cybit has been sold for �22.8million. Cyberspace Bidco, a subsidiary of global technology private equity firm Francisco Partners, made an offer of 75p per share, giving shareholders a 108 per cent premium over Cybit s c
GODMANCHESTER telematics specialist Cybit has been sold for �22.8million.
Cyberspace Bidco, a subsidiary of global technology private equity firm Francisco Partners, made an offer of 75p per share, giving shareholders a 108 per cent premium over Cybit's closing share price of 36p.
Cybit works in the efficient strategic management of transport fleets on the roads and at sea. Its customers include KwikFit Mobile, Greene King and the Highways Agency.
It was formed in 2001 and floated on the Alternative Investment Market (AIM) the following year, making six acquisitions of its own to date.
You may also want to watch:
Francisco Partners intends to grow Cybit's European telematics platform through continued acquisitions.
Most Read
- 1 St Neots rapist jailed for 11 years
- 2 Suspected firearm and drugs found in raid on Huntingdon house
- 3 Woman killed and four hospitalised after crash
- 4 Motorists urged not to 'panic buy' fuel as queues cause chaos across Hunts
- 5 New Post Office branch opens in St Neots
- 6 'Unprecedented crisis’ over school bus drivers
- 7 Eric Morecambe 'amused guests' when his family owned this St Ives hotel
- 8 Old Mill upgrade at Godmanchester is suspended through lack of materials
- 9 Brampton butchers win awards for delicious pies and sausages
- 10 Somersham teacher looks at how to make home learning 'meaningful'
