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The board of SAI Global Limited (ASX:SAI) has decided not to pursue a potential takeover offer from Pacific Equity Partners (ASX:PEP). 

 

SAI had received an unsolicited bid from the private equity firm back in May that valued SAI at $1.1 billion but no formal offer was received. 

 

A number of interested parties then expressed interest in various parts of the SAI Global however no compelling proposals were received. 

 

However SAI’s review process provided a thorough evaluation and validation of strategy for the company and Executive Chairman Alan Dutton says the discussions identified a range of additional opportunities the company now plans to pursue. 

 

Short term priorities include appointing a new CEO, restructuring sales and marketing and consolidation of legacy information technology platforms plus cost cutting measures. 

 

SAI Global reported net profit of $35.5 million dollars for the full year ended 30 June 2014.