Corero Plc (LON:CORO), the company behind software used in the education and banking & securities markets, is selling its Financial Markets division to Brokerhorse, a division of Tom Winnifrith’s Rivington Street Holdings (Plus:RIVP). In return, Rivington will assume a £2m convertible unsecured redeemable loan that will be converted into ordinary shares if the loan holders give the deal the nod. On top of that, Corero is raising £6.5m through a share placing and subscription for shares in order to invest and grow its remaining Business Systems arm and move into network security through a buy-and-build strategy. Corero shares fell by 20.5% to 27p.

Elsewhere, Craneware Plc (LON:CRW), the American company the develops automated revenue integrity systems for the US healthcare market, is set to unveil figures in line with expectations when it announces its full year results to June on September 3. The total value of contracts signed during the year will be the highest in the company's history, increasing by over 25% against 2009’s $43.2m. Craneware credits this growth to an increased product range and stronger partner relationships, supported by favourable conditions in the US healthcare market. The majority of this revenue will, however, be recognised in future periods in accordance with the company's annuity revenue model, adding to its already high visibility of future revenues.

Shares in Vero Software Plc (LON:VERO) were suspended from trading on AIM this morning as the public-to-private takeover backed by US private equity firm Battery Ventures proceeds as planned. Battery is paying 17.5p per share – or £7.15m – to take on Vero, which is a developer of CAD / CAM / CAE software for the mould & die industry.

Finally, Innovation Group (LON:TIG), the global provider of enterprise software and business process outsourcing systems to the insurance, financial services, motor and fleet industries, has made two new appointments to its US management team. William Langley joins as chief executive, Business Process Services, US and Mark McGee becomes chief operating officer of the same division. The hires are part of Innovation’s efforts to refresh and bolster its leadership teams globally.

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