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ikeGPS Group Ltd ( (AU:IKE) ) has provided an announcement.
IKEGPS Group Limited announced that it has discontinued discussions with a potential acquirer after receiving an unsolicited, non-binding acquisition approach in late 2024. Despite a 62% premium offer on IKE’s share price, the board concluded that the offer would not secure sufficient shareholder support. The company continues to focus on its growth strategy in delivering distribution network software for the North American and international electric utility and communications markets, benefiting from market trends towards increasing electrical grid resilience and capacity.
More about ikeGPS Group Ltd
IKE, the PoleOS™ Company, specializes in collecting, analyzing, and managing pole and overhead asset information for electric utilities, communications companies, and their engineering service providers. Their platform enhances speed, quality, and safety in the design, construction, and maintenance of distribution assets, with revenue driven by enterprise customers subscribing to the IKE platform and the volume of assets processed.
YTD Price Performance: 7.69%
Average Trading Volume: 29,570
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$90.05M
For detailed information about IKE stock, go to TipRanks’ Stock Analysis page.
