By Ian Walker
Shares of Osirium Technologies leapt after the company said that it has agreed to a 3.1 million pound ($3.9 million) takeover by SailPoint Technologies UK, which is indirectly owned by SailPoint Parent.
Shares at 1107 GMT were up 0.95 pence, or 79%, at 2.15 pence.
Under the deal, accepting shareholders of the U.K. cybersecurity software provider will get 2.35 pence in cash for each share held, Osirium said Wednesday.
The price is a 96% premium to its closing price of 1.20 pence on Tuesday.
“I believe that the acquisition fairly recognizes the medium-term prospects and growth potential of Osirium as a standalone business and provides Osirium shareholders with an immediate and certain value in cash,” Chairman David Guyatt said.
Write to Ian Walker at ian.walker@wsj.com
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