Innovision Accepts Acquisition Offer from Broadcom for £32m
Innovision Accepts Acquisition Offer from Broadcom for £32m

Innovision Research & Technology is the latest in the list of Companies bending towards the £32m acquisition offer made by Broadcom, the US semiconductor group.

Innovision's 12.7% stakeholder Herald Asset Management official, Katie Potts, has raised concern over the Company's decision.

Innovision is a radio frequency detection expert. As per the offer made by Broadcom, which has a capital worth $18bn, it will acquire the former in a deal worth £32m.

The announcement came after the proclamation of the takeover of Intelek, the satellite and microwave communications group, by Teledyne, the US electronic components group for £28m.

The two deals have not been able to many in the analysis sector. The analysts are of the view that the deal amount is too less.

Andrew Buchanan of Octopus, said, "It's a shame that shareholders who have backed the company for years are not in a position to reap the benefits of their patience".

Octopus is a 7% stakeholder in Innovision. The research firm had joined Aim 2001, witnessing income inflow of £12m at 101p a share. In 2007, it reported to possess a market capital worth for £14.5m at 45p a share.

The Company officials shared that they have taken the recent move in order to raise its capital.

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