Secret admirer chats up NetServices


Secret admirer chats up NetServices

Alex Scroxton
Salford-based Cisco Master Managed Services partner NetServices has revealed it is in talks with a mystery buyer after its share price leaped just before the weekend.

In a disclosure made to the City, NetServices said it had "r eceived preliminary   expressions of interest   to acquire its  managed services business, including its shareholding in WAN Services Limited which represents all, or substantially all, of the Company's business and assets."

NetServices said that as yet there was no guarantee that any discussions would lead to a sale, but said it would make a further announcement in due course.

Just before Christmas NetServices part-owner and Xploite CEO Ian Smith pumped £2.1m of new equity into the business to help fund a roll-up of companies in the sector. He currently owns just over 12% of the firm.

At the time, NetServices said that its directors recognised it "lacked scale" andthere was a "disconnect between the intrinsic value of the technicalcapability" built by the business and its £1.4m market capitalisation".

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