Simon Thompson 

Scisys' knockout bid sends shares into orbit

Simon Thompson

Simon Thompson
Scisys' knockout bid sends shares into orbit

Scisys (SSY:250p), a supplier of bespoke software systems to the media, space, defence and commercial sectors, has received a knockout 254p-a-share cash bid this morning from CGI, a Canadian IT and business consulting group, that values the equity at £79m. The offer represents a premium of 24 per cent over the previous closing price and equates to a multiple of 18 times house broker FinnCap’s earnings per share estimate of 14p for the 2019 financial year after factoring in 15 per cent growth in this year’s pre-tax profits.

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