FD Technologies shares soar 23% on £542 million takeover bid from TA Associates

FD Technologies, a data and analytics firm based in Newry, Northern Ireland, is in advanced discussions with US private equity firm TA Associates over a potential takeover offer valuing the company at approximately £542 million. The proposed deal would see TA Associates offer £24.50 per share, a premium of about 27% over FD Technologies' previous closing price, prompting the company's shares to surge over 20% in both London and Dublin trading. The board of FD Technologies has stated it is 'minded to recommend' the offer to shareholders if a formal bid is made, with a deadline of June 4 for TA Associates to make a firm offer. This comes after FD Technologies' recent restructuring, including the sale of its First Derivative consulting arm and a focus on its data analytics and AI business, KX. Despite the positive board stance, there is no certainty a final offer will be made. FD Technologies operates globally with thousands of staff and is regarded as one of Northern Ireland's leading tech success stories.