In the last month, UK software companies Aveva (AVV) and Micro Focus (MCRO) have entered the crosshairs of international buyers. As Schneider Electric (FR:SE) weighs a bid for the remaining 40 per cent of Aveva it doesn’t already own, the takeover of Micro Focus by Canada’s OpenText (CA:OTXT) is moving ahead. Meanwhile, shareholders in Leeds-based NHS software provider Emis (EMIS) agreed to a £1.24bn takeover from US health insurance giant UnitedHealth (US:UNH).
As the pound continues to devalue, under-appreciated UK software companies are being snapped up on the cheap by foreign buyers. Edinburgh-headquartered healthcare software company Craneware (CRW) could be the next to go. Although there are no rumours it is under consideration, both current trends and Craneware’s recent devaluation below its peer group, makes it a likely target.
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