RedstoneConnect (AIM:REDS) sells its main operating businesses, but what value the remainder?
The provider of technology and services for smart buildings and commercial spaces has announced the sale of its main operating divisions, leaving it to focus on its growing software operation. Our Blog here tries to assess what the remainder might be worth…
RedstoneConnect (AIM: REDS), the leading provider of technology and services for smart buildings and commercial spaces, has agreed to sell its Systems Integration and Managed Services divisions to Excel I.T. Services for a total consideration of £21.6m. With the market capitalisation of REDS only £23.8m (at a share price of 115p), you get a sense how material this deal is for the Group. Remember to use our unique AIMsearch tool from the link here to find out whether any AIM company benefits from the valuable Inheritance Tax reliefs. £19.6m of the sale consideration is payable in cash on completion and…