FD Technologies PLC, a leading British technology firm listed on the London Stock Exchange, has announced that it is in “advanced discussions” with U.S. private equity firm TA Associates Management LP regarding a potential takeover offer valued at approximately £542 million ($723.9 million).
In a regulatory statement issued Wednesday, FD Technologies confirmed that TA Associates has made a series of non-binding proposals, with the most recent one dated March 24. This proposal includes a cash offer of £24.50 per share for FD Technologies’ more than 22.1 million outstanding shares. The offer represents a 27% premium over the stock’s closing price on the London Alternative Investment Market (AIM) of £19.28 as of Tuesday.
Additionally, TA Associates’ proposal includes an alternative option involving unlisted shares.
“The possible offer is at a level which, should a firm offer be made on the same financial terms, the board of FD Technologies would be minded to recommend,” the company stated.
TA Associates, based in Boston, has until June 4 to submit a formal offer or withdraw from discussions. However, FD Technologies emphasized that there is no certainty that a firm offer will be forthcoming.
FD Technologies, which specializes in providing software and consulting services across various industries, recently made headlines with the sale of its First Derivative unit to U.S.-based EPAM for £230 million in October.
TA Associates is a prominent private equity firm with a focus on technology, healthcare, financial services, and other key sectors. Notably, it has also made headlines with its proposed acquisition of German healthcare technology company Nexus AG for €1.21 billion and its acquisition of a majority stake in British financial technology firm Solifi.
