Innodata withdraws proposal to acquire Appen

INNODATA has withdrawn a previously submitted confidential, non-binding, indicative proposal to acquire all the shares of Appen Limited. The Proposal was made public by Appen on March 12, 2024 after the Australian Stock Exchange, at the request of Appen, halted trading in Appen stock and required disclosure of any business activities which impacted recent trading in Appen’s stock. Innodata had submitted the Proposal to Appen’s board on February 13, 2024, a condition of which was that the Proposal remain confidential. Innodata also confirmed that it believes it remains on track to outperform the 20% revenue growth target it set for 2024.