I agree this is a low-ball opportunistic bid. IT stocks have been beaten down in the last year - especially those that have been cashflow negative.
Markets ebb and flow over time and I believe IT stocks are near the bottom in the cycle. A number of ASX listed tech companies have been taken over. I take heart from the outcome of the takeover of ASX-listed IntelliHR in 2023. The initial offer, by Humanforce, was $0.11. That was unanimously recommended by the Board of Directors. However, the final price of the takeover was $0.24.
I'm not keen on accepting. It is late in the game but it is still possible that this does not succeed. Harvestlane has been acquiring Whispir and had over 10% on Friday so they may hold out as well.
WSP Price at posting:
54.5¢ Sentiment: Hold Disclosure: Held
