||ORD SHS 1P
||EPS - Basic
||Market Cap (m)
|Software & Computer Services
Real-Time news about Syntopix (London Stock Exchange): 0 recent articles
|maut too: Synstar boss's takeover windfall
9 August 2004, Evening Standard
TEVE Vaughan, the 43-year-old chief executive of IT services firm Synstar, stands to make £700,000 profit on his share options after the board recommended shareholders accept a £162.9m cash bid from America's Hewlett-Packard.
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The 100p-a-share offer is a 28% premium on Synstar's share price at Friday's close and is backed by institutions* with 30.2% of the shares, led by Fidelity, Aberforth and Scottish Widows.
Synstar directors have pledged their combined 0.3% stake in favour of the HP bid and agreed to pay a break fee of £1.27m should a competing offer emerge which causes HP's to lapse.
Vaughan said the takeover was 'not about cutting costs but merging two organisations to get more customers'.
Synstar employs 3,000 people - 2,000 of them in Britain and the rest in Germany, Benelux, Spain and Ireland.|
|maut too: Hewlett-Packard to buy £160m Synstar
By Andrew Murray-Watson (Filed: 08/08/2004) S Telegraph
Hewlett-Packard, the US computer group, is in talks to buy Synstar, the listed information technology services company, for about £160m as part of a plan to expand its European operations.
The two sides are in detailed talks about the exact terms. The Synstar board is understood to be demanding that HP pays a premium at least 20 per cent above the current share price of 79p. An offer at 100p per share would value the company at £163m.
The takeover, which is expected to be announced within the next fortnight, marks the latest step in HP's plans to become a service-led company.
Steve Vaughan, the chief executive of Synstar who took over in 2001 when the share price stood at just above 50p, will make £1.4m from his options as part of the takeover.
Synstar, which specialises in providing desktop management and business recovery systems, is a good fit for HP, which has more than $10bn (£5.5bn) in cash and is known to be hunting for acquisitions in the UK and Europe.
Synstar is likely to be merged into HP's technology solutions group, which offers software, hardware and services packages for corporate clients. The division accounts for 40 per cent of HP's revenues, which hit a record $73.1bn in the last financial year.
Synstar, which was spun out of the IT department of Granada in a management buyout, beat analysts' expectations in June when it posted interim pre-tax profits of £2.2m.|
|maut too: 01.06.04 :-1, (73) delivered first half results which failed to excite the market, though analysts remained broadly positive on the company. Earlier, the company posted a 41% drop in underlying profit in the six months to March 31, on turnover down 3.3% to 107.8m, well short of the 111.4m forecast by house broker Arbuthnot. However, analyst George O'Connor repeated his 'buy' recommendation on the stock, describing the 13.8 multiple of 2005 earnings the shares are trading on as "pedestrian". Fellow broker Panmure Gordon, which also rates the stock a 'buy', said the results were "reasonably solid". It has an 85 pence share price target.|
|timtom2: Virtually impossible to predict Syn price performance but, to be proven wrong, I would suggest >£1 within 18 months based on a # of factors for the future........
1) New contrcats to kick-in, would expect further buying by institutions as it looks like increased revenue will kick-in. Why would they buy yet even given the good news when the good news will make little real difference for a couple more qtrs or more ? Why shold they risk it ?
2) Kiling of the lower marging business
3) Market waking-up to disaster recovery - predicted to grow faster than IT services in general
4) Market will wake-up to Syn's situation - read FT yesterday (European version as was over that way) and good article on IBM "buying seats" in Europe for recovery centres
5) Bidder will be sniffing around
Forget Robbie Burns - following others might lead to gains but to make real money over the long term you have to do your own leg-work and have your own methods - you are responsible for your own money.|
|anth21: I still believe there is something to the rumours about Synstar being a targget for Computercenter. The share price went ballistic last Monday but has continually fallen since then.. If the marker makers were so keen to buy shares at 82.00p on Monday what has changed since then?
Looks to me like the market makers have happily shaken the tree and forced the weak sellers to release their shares. The volumes seem to vary quite markedly also. Some days these are about 150,000 or so, but on others they shoot towards 1,000,000 or over.
The bid speculation isn't new, as Computercenter were looking to buy in the year 2000 but the company was then valued at £250million. Obviously it is worth considerably less now, but significantly has much brighter prospects thanks to some very good contracts.
I am hopeful that something will emerge within the next few months, we will wait to see if I am right.|
|gedy: I haven't posted here before. I was given the name of this company as a tip a few weeks ago. I passed that tip onto a friend who has noticed the fall in share price (he hasn't invested yet) and would like to know if this is a buying oppertunity? I would be interested in comments as I have seen software companies go down the tubes in the past. I get the impression that this one won't and I would like to say to my friend "OK go ahead". He will do some research of his own, so he's not totally dependant on my "tip".|
|addict: Mmmm-too many punch drunk BB followers methinks.Incredible that today's trades/share price movement haven't generated more interest.|
I'm sure that you're right as the SYN share chart is just about the best that I've ever seen !
However, how did you get your info....SYN employee ?
BTW....I know a senior SYN employee....He's very bullish on SYN's prospects !
Cheers for now,
|sham3001: SYN - share price scoffs recent doubts. Uptrend fully resumed. Look for new year high this month.|
Talking about the share price that is !
Syntopix share price data is direct from the London Stock Exchange