FD Technologies PLC on Thursday accepted a £570 million takeover offer from TA Associates Management LP, a day after talks between the two firms were revealed.
The County Down, Northern Ireland-based company provides data analytics and consulting services to finance, technology and energy institutions.
TA Associates is a Boston, Massachusetts-based private equity firm which has raised about $65 billion in capital since it was founded in 1968.
FD Technologies said the cash offer is worth 2,450 pence per share.
Shares in FD Technologies rose 2.3% to 2,425.00 pence each in London on Thursday. They shot up 21% to 2,330.00p each on Wednesday.
On Wednesday, FD Technologies said it was in ‘advanced discussions’ with TA Associates after receiving a number of non-binding proposals from the firm.
On Thursday, TA Associates said it has received irrevocable undertakings in respect of around 57% of FD Technologies shares.
FD Technologies Chair Donna Troy said the deal gives shareholders the ‘opportunity to realise value in cash at an attractive premium’.
‘The board is unanimous in its belief that this transaction recognises the quality and underlying value of the business and delivers appropriate value to shareholders’ she added.
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