Bain Capital Considers Takeover Bid for Craneware

Strategic Insights -

The London-listed software firm Craneware has seen its shares jump 10% after it emerged that private equity group Bain Capital is considering a takeover bid. Bain said it is "assessing" a possible offer to acquire Craneware, which provides software to hospitals in the US. The company has until June 13 to make an approach. If the bid is successful, Craneware would become the latest listed firm to leave the London Stock Exchange.

Key Takeaways:

  • Bain Capital is considering a takeover bid for Craneware, a London-listed software firm that provides accounting and billing software to the US healthcare system.
  • The private equity group has until June 13 to make an approach to the board of Craneware.
  • The bid would make Craneware the latest listed firm to leave the London Stock Exchange, following companies such as Just Eat and Flutter.
  • Craneware has more than 800 employees, according to its website, and turned over $189 million (£142 million) in revenue last year.
  • The company has recently struck a deal with Microsoft to feature its product more on the tech giant's cloud platforms.
  • Analysts at Panmure Liberum have argued that Craneware is a bid target due to its attractive position in the US healthcare software market.
  • Several interested parties could be involved if a bid were to proceed.

Statistics:

  • Craneware's shares rose 10% on the news of the possible takeover bid.
  • The company has more than 800 employees.
  • Craneware turned over $189 million (£142 million) in revenue last year.
  • The private equity group Bain Capital has until June 13 to make an approach to the board of Craneware.
  • The deal would make Craneware the latest listed firm to leave the London Stock Exchange, following companies such as Just Eat and Flutter.

Sources:

  • "Bain confirms it is assessing a possible offer for Craneware"
  • "Craneware shares surge on takeover talk"
  • "Craneware - Investors information"
  • "Craneware - News"
  • "Panmure Liberum - Research reports"
  • "Bain Capital - Company website"