Micro Focus International (MCRO) shares ticked up 9.88% to 399.55p following $375m sale
The global enterprise software business has agreed definitive terms to sell its archiving and risk management portfolio to Smarsh Inc. for a total cash consideration of $375 million.
In FY21, the Digital Safe business is expected to generate approximately $109m of revenue, a decline of around 11% at constant currency compared to the prior year, Micro told investors.
The business is expected to contribute $30m of Adjusted EBITDA less cash costs associated with lease payments in FY21. It is the intention of the Board to use the net proceeds of the transaction, estimated at $335m net of fees, taxation and separation costs to reduce debt.
Blue Star Capital (BLU) jump again by 36.11% to 0.245p following $5m sale round
On Tuesday, Blue said its investee firm SatoshiPay’s smart contract network Pendulum, had raised $5m in an oversubscribed private sale round of the network’s upcoming PEN token.
London-listed Blue Star Capital, which makes investments within the esports, payments, technology sectors, said the funds will be used to continue the development of Pendulum. Blue Star holds an interest in Pendulum through its existing 31% equity interest in SatoshiPay.
Today, in an oversubscribed placing, Pendulum raised $5 million for its further development by the private sale of PEN tokens. The directors of the Company have been advised that the funding allows for SatoshiPay to be contractually retained to continue to develop Pendulum.
SatoshiPay said it expects that the revenue it derives from Pendulum development should be sufficient to fund itself and significantly reduce any need for the group to raise equity finance.
Online Blockchain (OBC) shares rose 18.48% to 54.5p as crypto market hits record highs
Shares in the Online Blockchain jumped as the global crypto market hit a record high with Ethereum and several other leading cryptocurrencies reaching all-time highs on Wednesday.
According to CoinMarketCap’s price index, the overall cryptocurrency market is now worth more than $2.75 trillion, making the market more valuable than the richest companies.
CyanConnode Holdings (CYAN) rose 13.56% to 16.75p as it sees record turnover
In recent weeks, the group reported that its turnover had nearly tripled in 1H22. The U.K. smart-metering technology company achieved turnover £4.1m, up from £1.5m in 1H21.
In a research note, Hardman & Co acknowledged that CyanConnode’s smart meter intelligent module shipments had continued to accelerate during 1H22 alongside multiple new contracts.
The broker said the potentially immense market opportunity is starting to translate into large orders, rising shipment volumes, exceptionally strong revenue growth and cash inflows.
£3.8m was received from customers in 1H22, resulting in £1.7m net cash at end-September 2021. Hardman’s updated DCF-implied fair equity value for CyanConnode is £89.6 million.