Workspace snapped up for £41m

WorkPlace Systems, the AIM-listed workforce management software and consulting services firm, is to be acquired by Wasp Management Software (NewCo) for 25p per share, valuing the group at £41m.

WorkPlace Systems, the AIM-listed workforce management software and consulting services firm, is to be acquired by Wasp Management Software (NewCo) for 25p per share, valuing the group at £41m.

NewCo, a company backed by Lloyds TSB Development Capital, has reached an agreement with WorkPlace on the terms of a recommended cash offer for its entire issued (and to-be-issued) share capital, excluding the roll-over shares which NewCo has separately contracted to acquire from the management team, the statement said.

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