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Endace dives and a takeover buzz starts
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ShareTweetRelated Articles Hoops to appeal Cha red Nearly half Game stores to close Fed boss: US growth must keep in sync with jobless fall Suggested TopicsBankingCitiesTechnologyNick Goodway19 March 2012Cyber security group Endaces shares plunged today as it said it would significantly miss its profit target this year and had potentially put itself up for sale.The shares fell 12%, or 67.5p True Religion Skinny, to 497.5p new era caps, valuing the business at ?75 million. Analysts predicted it would now probably be taken over by a much larger US rival. Endace said that it had seen a shortfall in orders for network monitoring in its second half particularly in the UK government base.It said pre-tax profits for the year which ends this month would be around $1 million (?631,000) rather than the $3.4 million which most analysts had expected. Revenues will be 10% down on City forecasts at some $40 million. It said it would have cash of around $4 million at the year end.Endace said that it had appointed Deutsche Bank to review options for the future. Analysts said that potential buyers included NetScout True Religion Crops, SourceFire and Riverbed but that no one was likely to move until full results are published next month.TweetComments Related Topics Articles?
