Gresham has announced that is has agreed to sell its non-core VME mainframe software business to Fujitsu for £2.0m, with all VME customer contracts and IP rights in the relevant software products to be transferred to Fujitsu as of 31 January. We have reduced our FY 2019 revenue and adjusted EBITDA estimates by £0.7m and £0.6m, respectively. As the VME business is a legacy asset with steadily declining revenues in recent years, we believe this disposal - for c3x estimated VME revenue in FY 2019 - ....
14 Jan 2019
Sale of non-core VME business is a positive outcome
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Sale of non-core VME business is a positive outcome
Gresham Technologies plc (GHT:LON) | 163 0 0.0% | Mkt Cap: 136.7m
- Published:
14 Jan 2019 -
Author:
N+1 Singer Team -
Pages:
4
Gresham has announced that is has agreed to sell its non-core VME mainframe software business to Fujitsu for £2.0m, with all VME customer contracts and IP rights in the relevant software products to be transferred to Fujitsu as of 31 January. We have reduced our FY 2019 revenue and adjusted EBITDA estimates by £0.7m and £0.6m, respectively. As the VME business is a legacy asset with steadily declining revenues in recent years, we believe this disposal - for c3x estimated VME revenue in FY 2019 - ....