Essensys agrees to all-cash takeover offer from Accruent UK

(Sharecast News) - Software firm Essensys said on Tuesday that it had agreed to a recommended allcash takeover offer from Accruent UK, a subsidiary of USbased Accruent, valuing the AIM-listed flexible workspace software group at �30.8m.

Essensys said the deal would provide shareholders with certainty amid what it described as a challenging operating environment and the need for continued investment to support longterm growth.

Under the terms of the offer, Essensys shareholders will receive 55p in cash for each share, representing a premium to recent trading levels. The directors unanimously recommended the bid, saying it reflected the progress made in repositioning the business and the investment required to scale its platform globally.

Accruent, which provides real estate and facilities management software, said Essensys would complement its existing portfolio and strengthen its presence in the flexible workspace market.

Essensys said the offer followed a period of engagement with multiple parties and that the board had concluded the bid was in the best interests of shareholders, given the company's capital needs and the broader market backdrop.

The acquisition will be implemented via a courtsanctioned scheme of arrangement, with completion expected in the second quarter of 2026, subject to shareholder and regulatory approvals.

As of 0930 GMT, Essensys shares had slumped 8.89% to 16.40p.

Reporting by Iain Gilbert at Sharecast.com