Computershare announces bid for QM Technologies

Computershare makes QM Technologies an offer too good to refuse.

The company announced a cash offer of $3.40 per share which QMT shareholders have been advised to accept in the absence of a better offer.

"The Computershare offer is an attractive offer and provides QMT shareholders with a substantial premium to the current share price," said Nerolie Withnall, QMT chairman. "The QMT board unanimously recommends the offer subject to there being no superior offer."

Computershare said that the offer price of $3.40 per share is final in the absence of a competing proposal. President and ceo of Computershare, Stuart Crosby, explained that the company's attraction to QMT was based upon its reputation and the chance to combine both groups into a thriving business.

"We are impressed by QMT's history of developing innovative solutions for its customers and its strong culture," he said. "We are excited by the prospect of combining our communication services division with QMT to create Australia's leading transaction communications business which provides an extensive range of inbound data capture, outbound delivery services and document management solutions."

A date for the deal has not yet been finalised, but Crosby anticipates that it will be soon. "We intend to implement the acquisition quickly so that we can deliver the benefits of this transaction to shareholders, staff and customers," he said.