Bonkers Bargain under offer
Investment in a new digital offering is coming good for this company's specialist software offering. The sale of a subsidiary for a nice premium leaves the business in a very strong net cash position to support growth, with the company already a large chunk of this to shareholders via a tender offer. The modest valuation and cash rich position has attracted an acquirer, who has now made an offer, which doesn't look overly attractive to us.
Smooth (AIM:SMV), formerly ULS Technology (LON:ULS), supports residential conveyancers and related legal services through its eConveyancer product, an online comparison service for conveyancing used by over 4,000 mortgage brokers and financial intermediaries, lenders, networks and estate agents.
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