18 August 2017
visit www.avoka.com

Troubled CMS invites M&A approaches

24 May 2007  |  2839 views  |  0 CMS Webview

After failing again to secure any new sales of its proprietary TDI ticker plant software, loss-making market data technology vendor CMS WebView has put itself up for sale.

London-based CMS has been struggling in recent years after sales of its TDI product dried up in 2004. In a bid to generate contracts the vendor introduced a new sales model last September where it sells the intellectual property (IP) for TDI to clients. The firm also recruited former head of LCH.Clearnet David Hardy as an advisor to provide practical support using his business contacts in the banking technology sector.

But in its finacial results statement CMS says despite arranging more than 30 appointments with IT managers at financial data organisations, "no new TDI sales have yet resulted".

The company has posted a 25% fall in turnover to £697,000 (2005: £934,000) for the year ended 31 Dec 2006, although it did manage to narrow pre-tax losses by 28% to £399,000 (2005: £553,000), despite incurring £112,000 of redundancy costs.

At year end the company had cash in the bank and in hand of £382,000 (2005: £844,000). CMS chairman Keith Young says the current cash position requires other "corporate actions to be considered".

"Acting in the best interests of shareholders, CMS directors are open to corporate deal opportunities with companies that might find significant value in CMS's 'clean' balance sheet and our proven TDI product or in realising the value of CMS's intellectual property assets," says Young.

Last year CMS was approached by two separate potential bidders but talks with both parties fell through.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

CMS WebView hires David Hardy as advisor

CMS WebView hires David Hardy as advisor

16 February 2007  |  3433 views  |  0 comments
CMS software development director Lee Playford resigns

CMS software development director Lee Playford resigns

11 October 2006  |  3337 views  |  0 comments
CMS WebView rises on Cbot deal

CMS WebView rises on Cbot deal

28 September 2006  |  4173 views  |  0 comments
CMS Webview reports widening losses

CMS Webview reports widening losses

26 September 2006  |  3532 views  |  0 comments
Tenfore buys CMS WebView data feed business

Tenfore buys CMS WebView data feed business

30 May 2006  |  4373 views  |  0 comments
CMS WebView shares plummet as sales dry up

CMS WebView shares plummet as sales dry up

17 May 2006  |  4155 views  |  0 comments
CMS WebView offer talks terminated

CMS WebView offer talks terminated

24 April 2006  |  3982 views  |  0 comments
CMS Webview takeover talks fall through; cuts staff

CMS Webview takeover talks fall through; cuts staff

08 April 2005  |  4925 views  |  0 comments
CMS WebView suspends trading; confirms reverse takeover talks

CMS WebView suspends trading; confirms reverse takeover talks

10 March 2005  |  4892 views  |  0 comments
CMS WebView looks for cutbacks as TDI sales fail to materialise

CMS WebView looks for cutbacks as TDI sales fail to materialise

29 November 2004  |  5245 views  |  0 comments
CMS Webview reports turnover down, losses up

CMS Webview reports turnover down, losses up

29 September 2004  |  2832 views  |  0 comments
CMS Webview loses a quarter of its value on profits warning

CMS Webview loses a quarter of its value on profits warning

30 June 2004  |  3249 views  |  0 comments
CMS WebView cuts losses, increases turnover

CMS WebView cuts losses, increases turnover

16 April 2004  |  3481 views  |  0 comments
CMS WebView to open Chicago office

CMS WebView to open Chicago office

18 March 2004  |  3196 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.worldpaymentsreport.com

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10365 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8547 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7965 views 0 | 1 tweets | 9 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7940 views comments | 3 tweets | 7 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job