System1 gains on receiving takeover interest for Total Security unit

System1

06/09/2023 12:44

** Shares of customer acquisition platform System1  SST.N 
rise 27.2% to $2.30 premarket
    ** Stock to hit highest level in almost a month if gains
hold 
    ** SST confirms receipt of takeover interest for its
cybersecurity services unit, Total Security Ltd, from UK-based
tech co Just Develop It
    ** Offer includes $240 mln in cash among other payments
    ** A special committee of SST's board was formed to evaluate
non-binding indication of interest
    ** Co does not intend to disclose developments with respect
to this matter without board approval
    ** SST's market cap stands at $211.8 mln
    ** SST was down 60.8% YTD as of last close 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))