BC parent in takeover approach

According to a London Stock Exchange announcement today, Coda plc, the parent company of UK construction collaboration technology vendor Business Collaborator, has been the subject of a takeover offer from Dutch-based business software provider Unit 4 Agresso. The move values Coda at £157.8m, but “news of the talks could well attract competitive bids from rivals such as Sage Group or the private equity sector” (says Computer Business Review).

Otherwise, the trading update said: “The Business Collaborator Division continued to perform well during the period, securing contracts recently at EDF Energy and The Bowen Group. SEDEX continued to attract new members throughout the period.” Full results will be published on 13 March 2008.