Wiit Spa on Tuesday confirmed talks to potentially acquire Harrogate, England-based IT service provider Redcentric PLC.
Wiit, a cloud and cybersecurity service provider, is listed in Milan. Its shares were up 2.4% at €17.74 each on Tuesday afternoon. It has a market capitalisation of €497.1 million.
Redcentric shares were 3.0% higher at 156.50 pence each on Tuesday afternoon in London. It has a market capitalisation of £247.7 million.
Wiit said: ‘In the ordinary course of its activities WIIT regularly evaluates strategic external growth opportunities and maintains dialogue with various operators in the industry for this purpose, with the primary objective of developing the WIIT Group.
‘In this context, WIIT confirms that it has held preliminary and non-binding discussions with Redcentric, aimed at assessing WIIT’s possible interest in making an offer for the entire issued, and to be issued, share capital of Redcentric.’
However, Wiit cautioned: ‘Such discussions are at a preliminary and early stage and there can be no certainty that any firm offer for Redcentric will be made; if a firm offer were to be made, it would likely be in cash.’
Wiit has until June 21 to announce whether it plans to make an offer for Redcentric.
Reuters on Friday reported that Redcentric had turned to investment bank Lazard, to scope out possible buyers of the firm.
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