News Column

Microgen Continuing To Look At Potential Acquisition Opportunities

April 28, 2014

Hana Stewart-Smith

LONDON (Alliance News) - IT services and software company Microgen said that it was continuing to identify and evaluate business and strategic investments to enhance value for shareholders, in a statement ahead of its annual general meeting Monday.

Microgen said that there had been no significant changes to its trading or financial position since January 1. It had cash of GBP40.6 million as at March 31, broadly flat on GBP40.6 million at the end of 2013.

The company is continuing to invest in its Aptitude Software business, and signed a contract with a North American client shortly after the release of its full-year results February 26. It launched a new version of its Aptitude software Monday.

Microgen's Financial Systems business continued to perform "satisfactorily," and is continuing with its strategy to focus on the wealth management sector.

Although the company is evaluating potential acquisition opportunities, it noted that it will maintain its "prudent approach" and there was no certainty it would make an acquisition.

Shares in Microgen were trading up 1.1% at 126.34 pence.

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Source: Alliance News

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