UK's Blancco Technology rises on WipeDrive acquisition deal
08/06/2022 09:33
** Shares of software solution company Blancco Technology
BLTGB.L rise as much as 3.4% to 212p
** Co agrees to buy WipeDrive Inc for $10 mln urn:newsml:reuters.com:*:nTUCBG3BML
** Expects acquisition to be immediately earnings-accretive
upon completion
** "Blancco is pouncing on an opportunity to consolidate the
market by taking out a key competitor, WipeDrive" - Peel Hunt
** Adds acquisition will help entrench co even more, and
improve its pricing picture and win ratio over the medium term
** BLTG says total consideration to be financed through
group's existing cash and debt resources
** Including session's gains, stock down ~9% YTD
(Reporting by Amna Karimi in Bengaluru)
((amna.karimi@thomsonreuters.com))