Indian VAS giant in talks with its UK counterpart.
The board of WIN plc has announced that it is in discussions that may lead to a recommended cash offer by IMI for the company at a proposed price of 141p per WIN ordinary share.
IMI wants to to acquire 18.56 per cent stake owned by AXA IM (Sun Life/Framlington) in WIN. This would take its holding to 20.93 per cent as it already owns 2.37% in the AIM-listed firm.
Besides AXA, other large shareholders of Win include ISIS EP LLP, Oxygen8Communications, Legal & General Plc, National Grid UK Pension Scheme and Henderson Global Investors.
Win increased its turnover by 9.8 per cent in 2009 to £41.9 million with operating profit of £1.4 million. The company offers payments and messaging services, increasingly in the enterprise space.
IMImobile supplied diverse mobile services from ringbacks to social media to personalisation content. It's been a voracious acquirer in recent months, purchasing content back-up specialist Mobyko and digital music provider DX3.
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