UK's CyanConnode rises on Esyasoft's sweetened $50 million bid

Cyanconnode Holdings

03/03/2026 08:38

** Shares of narrow-band radio frequency network developer CyanConnode CYAN.L up 12.8% at 9.25p

** Stock hits its highest point since April 2025

** Company receives a second non‑binding all‑cash proposal from Esyasoft, unit of International Holding Company PJSC, IHC.AD valuing it at 37.5 million pounds ($49.98 million), or 10.44 pence per share

** CYAN's board is willing to recommend the proposal to its shareholders, if a formal offer is tabled

** Revised offer price represents 44% premium to the co's share price on February 2, last business day prior to start of offer period

** As of last close, stock had risen ~20% YTD

($1 = 0.7503 pounds)

 (Reporting by Tuhina)

 ((tuhina@thomsonreuters.com ;))