NEWS27 January 2012

Alterian shares come off stock exchange in SDL acquisition

Financials UK

UK— Shares in marketing analytics firm Alterian have come off the London Stock Exchange as the firm’s acquisition by tech firm SDL is completed.

SDL, which makes web content management technology, first made its move for Alterian with a bid of just under £50m in October last year, just as the firm was reviewing its operations and cutting costs in the wake of disappointing results.

Alterian refused the initial bid but SDL came back with an improved offer the following month.

An agreement was reached by early December and the Alterian leadership team, including CEO Heath Davies who was brought in to turn things around after the departure of co-founder and CEO David Eldridge, recommended that shareholders accept SDL’s offer.