Accesso Up For Sale

One time favourite of private investors, and at one time one of my biggest holdings, Accesso Technology (ACSO) has announced that following approaches it has decided to start a formal sale process. It is inviting offers for the business.

Now I would have picked this up sooner but Investegate which I use for RNS announcements has a problem at present which is delaying emails. I told them about that issue this morning. Anyway what with that and taking some rubbish to the local waste tip, I only picked up the news when I saw the price change an hour later. The price jumped from last nights 755p to 1350p for a very short time but has now settled back to about 1100p so I missed the peak – and at 1350p I would have considered that a very fair price.

I think I’ll wait and see what offers come in now as it’s a difficult company to value. It depends how much prospective buyers want their customer relationships, which are good, and the technology they have developed even if the latter is being redeveloped to a large extent.

As I normally do in such uncertain situations, I hedged my bets by selling a few more shares and holding the rest today.

Roger Lawson (Twitter: https://twitter.com/RogerWLawson )

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