Source - SMW
Portfolio analysis software provider StatPro said it had agreed to a £161.1m takeover bid from US-based Confluence Technologies.

StatPro shareholders had been offered 230p cash for each of their shares, representing a 55% premium to their closing price on Thursday.

'The boards of directors of Confluence and StatPro believe that there are strong strategic reasons for combining the two groups with their complementary geographic reach and products, and that this combination has the potential to deliver benefits to customers and other stakeholders,' StatPro said.

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