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NCC exploring sale of cyber business in event of Escode sale
(Sharecast News) - Technology firm NCC confirmed late on Wednesday that it is in the early stages of reviewing all strategic options for its cyber business should the sale of the Escode arm be agreed. The company announced in April that it was exploring options for the Escode business that included a potential sale.
In a statement after the close on Wednesday in response to press speculation, it said the process is continuing but there can be no certainty it will result in a transaction the board would be happy to recommend.
"The company notes the recent media speculation and confirms that it is in the early stages of commencing a review of all strategic options for its cyber business in the event the sale of the Escode business is agreed," it said.
NNC said the cyber review is at a very preliminary stage and includes a range of potential outcomes, including potential offers for the entire company.
"No decision has been made regarding which options will be pursued," it said, adding that it is not in discussions with, nor in receipt of any approaches currently.
"There can be no certainty either that an offer will be made nor as to the terms of any offer, if made," it said, adding that a further announcement will be made when appropriate.
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